Market Overview

2 Takes On The Mattel CEO Shake-Up

2 Takes On The Mattel CEO Shake-Up

Mattel Inc (NASDAQ: MATannounced Thursday that Margo Georgiadis was stepping down as CEO and would be replaced by Ynon Kreiz.

The pressure on Mattel and other toy manufacturers has increased since the liquidation of Toys ‘R’ Us.

Stifel: 'Mixed' Reaction

“Our initial take on this news is mixed,” Stifel's Drew Crum said in a Friday note.

“It could serve as a read on the progress (or lack thereof) being made on the company's turnaround strategy, and thus frustration on the part of Ms. Georgiadis.”

The leadership change could renew optimism, especially given Kreiz’s extensive experience in media and entertainment sectors, the analyst said.

Kreiz previously served as chairman and CEO of Maker Studios and Fox Kids Europe, both of which he sold to Walt Disney Co (NYSE: DIS). He also served as a general partner at Balderton Capital, a London-based VC firm focusing on early-stage technology and internet startups.

This leadership change could also signify an opportunity for Mattel to shift its focus towards entertainment, Global Toy Experts CEO Richard Gottlieb was quoted as saying in Reuters.  

“It appears that the Mattel board is betting that Kreiz, with his history in entertainment, can turn things around." 

Price Action

Mattel shares were down 3.79 percent at $12.94 at the time of publication Friday.

Related Links:

Assessing The Toys 'R' Us Liquidation's Impacts On Hasbro, Mattel and JAKKS

What Toys 'R' Us US Liquidation Means For Toy Makers

Photo courtesy of Mattel. 

Latest Ratings for MAT

Apr 2019MaintainsNeutral
Feb 2019MaintainsOutperformOutperform
Dec 2018MaintainsOutperformOutperform

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Posted-In: Drew Crum Margo Georgiadis Richard Gottlieb StifelAnalyst Color News Management Analyst Ratings Best of Benzinga


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