Mattel, the toy company known for its “Hot Wheels” franchise and other highly sought after toys, has appointed Ynon Kreiz, a director of Mattel since June 2017, as Non-Executive Chairman of the Mattel Board of Directors.
Kreiz, who was the former chairman and CEO of Maker Studios, succeeds Christopher A. Sinclair, the Executive Chairman of the Mattel Board and former CEO of Mattel, who on June 13, 2017, announced he would be leaving at the end of his term.
Prior to Maker Studios, Kreiz served as Chairman and CEO of Endemol Group, one of the world’s largest independent television production companies. Prior to that, he was co-founder, Chairman and CEO of Fox Kids Europe N.V., establishing it as one of the most successful pay-TV providers in Europe and the Middle East, leading to its acquisition by The Walt Disney Company in 2001.
“As we continue our steps to transform Mattel for the future, we are committed to regularly refreshing and diversifying the composition of our Board to ensure rapid progress toward delivering the growth and profitability expected of a toy market leader and innovator,” added Margo Georgiadis, CEO of Mattel.
According to the CEO, Kreiz’s thought leadership will be instrumental in helping the company unlock the value of its IP portfolio and deepen it’s consumer engagement for a digital age, which has been among the its top priorities in recent years.
Last year, the company teamed up with advertising agency BBDO San Francisco to launch a new Hot Wheels multi platform brand campaign and also partnered with Fullscreen to launch a Hot Wheels Digital Content Innovation Team, which tapped Fullscreen’s top creators to make content for the brand’s online fans. The partnership is expected to increase the amount of premium kids and family content from Mattel by 61% and reach an estimated 800 million monthly video viewers.
Most recently, Mattel partnered with Chinese Internet technology and video game company NewEase to create Mattel163, a new publishing and development studio. Through the deal, NetEase will leverage its expertise in digital content and gaming to market digital experiences based on Mattel brands.