Kreiz will join the media giant as co-CEO of the merged Paramount Warner Bros. Discovery, and is replaced by Mattel board member and Condé Nast chief Roger Lynch
Mattel’s CEO Ynon Kreiz has left the company to join Paramount, as the media giant nears completion of its merger with Warner Bros. Discovery.
Mattel board member and Independent Lead Director Roger Lynch will replace Kreiz as Chairman effective 2 October, 2026, and Chief Executive Officer effective on or before November 2, 2026.
“It has been a privilege to lead Mattel, with a global team dedicated to its mission and purpose, and I am proud of all we have achieved together,” Kreiz said. “Mattel is in a position of strength, with a world-class brand portfolio, product offering, and global capabilities.
“I am grateful to the board, management team, and entire Mattel organisation for their commitment and collaboration during the past eight years, and I have every confidence the company will continue to thrive under Roger’s leadership.”
The merger of Paramount and Warner Bros. was cleared to move forward by a US federal judge yesterday. Kreiz will serve as Co-CEO of the combined company alongside Chairman and CEO David Ellison. He will oversee the company’s day-to-day operations and integration of the combined businesses, while Ellison heads up strategy, creative and technology.
Ellison said: “Bringing together Paramount and Warner Bros. Discovery to create a next-generation global media company is a transformational moment for our industry. Leading it takes a rare combination of strategic vision, operational depth and experience running a public company at the highest levels of media. Ynon brings all three. In Ynon, I’m adding a partner with strong leadership and the operating firepower this integration demands.”
Lynch, who leaves Condé Nast to take the post at Mattel, has served as a member of the toymaker’s board since 2018 and brings extensive leadership experience spanning media, technology, and consumer businesses. He served as CEO of Condé Nast since 2019, overseeing a period of significant change.
“I am honoured by the Board’s confidence in me and couldn’t be more excited to lead the incredible team at Mattel,” Lynch said. “Throughout my years on the board, I have admired Mattel’s brands, its talented people, and unique culture. I am especially grateful to Ynon for his many years of outstanding leadership and service to the company. During his tenure, Mattel has leveraged the power of its world-class brands, attracted exceptional entertainment partners, and strengthened its balance sheet. The company is well positioned for its next phase of profitable growth and its exciting new chapter.”
Judy Olian, who led the succession process, added: “Roger is a visionary leader with a track record of growing global companies at the forefront of changing industry and consumer trends.
“The board is most grateful for Ynon’s eight years of transformational leadership, and wishes him every success in his new role,” she added. “Ynon leaves an invaluable legacy of transitioning Mattel from a toy manufacturer to a leading IP-driven play and family entertainment company.”
