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Mattel unveils new management team

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Investing.com -- Mattel Inc (NASDAQ:MAT)., one of the world's largest toy manufacturing companies, unveiled its new management team on Thursday in its latest effort to jumpstart a brand that has endured one of its roughest periods in its 70-year history.

The company named Christopher Sinclair as its CEO, elevating him to the position permanently after Sinclair was named interim CEO in January. Sinclair has served on the company's Board of Directors since 1996 and on its Executive Committee since 2011. Previously, Sinclair served as CEO of Quality Foods, Inc. and in a similar capacity as CEO of Pepsi-Cola Company.

"Since stepping in as Interim CEO in January, Chris has been extremely active inside the Company, developing with the Board and the Mattel management team a comprehensive plan to improve the Company's performance and make the most of our incredible brands and opportunities," said Michael Dolan, Mattel's Independent Lead Director. "He is moving with urgency and we are delighted that, with his agreement to sign on as CEO and continue to lead the effort personally, there will not be any delay in implementing the changes necessary to get Mattel back on track."

In addition, Mattel appointed Richard Dickson as its president and Chief Operating Officer on Thursday. Dickson returned to Mattel last year after spending more than four years as the president and CEO of The Jones' Group Inc's branded business. Previously, Dickson worked at Mattel from 2000-2010, where he spent time as the Senior VP of the company's Barbie line.

"Richard is a recognized creative and operational talent and he knows Mattel and its brands extremely well. He has been a strong partner to me over these last few months and I look forward to working closely with him in his expanded role."

Sinclair took over as interim CEO in January when his predecessor Bryan Stockton abruptly resigned. Company sales fell in six of the 12 quarters under Stockton's leadership. In 2014, Barbie sales fell for the third straight year.

On Thursday, shares in Mattel fell 0.43 or 1.86% to 22.65.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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