Paramount Names Mattel CEO Ynon Kreiz Co-CEO

Paramount has named Mattel chief executive Ynon Kreiz as co-CEO of the company planned after its merger with Warner Bros. Discovery, assigning him responsibility for day-to-day operations and integration while David Ellison leads strategy, creative and technology functions. The merger had not closed as of September 30, and Paramount’s reported target of October 6 remained prospective. Paramount said Kreiz would join the company on October 5, 2026, and become a member of its board. The combined businesses are expected to report jointly to both leaders, according to the company’s announcement. The future company’s name had not been announced in the reports. The leadership arrangement divides responsibilities between the two executives. Ellison, Paramount’s chairman and CEO, will oversee the company’s overall strategy, creative direction, talent relationships, partnerships, technology and capital allocation. Kreiz will manage daily operations and the integration of the businesses being brought together through the merger. Mattel said Kreiz will step down as its chairman and CEO effective October 2. He has led the toy company since 2018.