Mattel names board member Lynch CEO as Kreiz departs

By Reuters News

Sept 30 (Reuters) - Mattel MAT.O on Wednesday named board member Roger Lynch as CEO, succeeding Ynon Kreiz, who is leaving the toymaker to take a senior leadership position at another public company.

Kreiz, who has been CEO since 2018, will step down on Friday, the company said.

Shares of the company were down about 4% in premarket trading.

Lynch, who has served on Mattel's board since 2018, is currently the CEO of Condé Nast. He is expected to assume the top job on or before November 2 this year.

Under Kreiz, Mattel has been trying to diversify beyond its traditional toy business through entertainment and digital gaming initiatives.

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