Mattel's Ynon Kreiz Named Co-CEO of Paramount-Warner Bros.

Ynon Kreiz, stepping down as Mattel's chairman and CEO effective Oct. 2, is in discussions to take a senior role at David Ellison's Paramount, which is finalizing its merger with Warner Bros. Discovery.

• Mattel said Kreiz will take 'a senior leadership position at another public company.'
• $110–111 billion merger awaits one federal judge's sign-off before closing.
• The combined company carries roughly $52 billion in debt.
• Roger Lynch, outgoing CEO of Condé Nast, will succeed Kreiz at Mattel.

Why it matters: Paramount has had a senior leadership vacancy since former president Jeff Shell departed last April following a whistleblower lawsuit. Kreiz would give Ellison an experienced operational executive alongside him.

• Kreiz brings international and finance experience relevant to a post-merger company spanning HBO, CNN, MTV, and Nickelodeon across global markets.
• He led Barbie's 2023 theatrical release, Warner Bros.' highest-grossing film of all time.

How 13 sources split on this story

Where they split: Outlets agree Kreiz is in discussions, but differ on how senior: the New York Post reports sources expect president or co-CEO, while Deadline and Variety say the exact title and scope are not finalized.

What’s next: Judge Martínez-Olguín must approve the antitrust consent decree before the deal closes, expected around Oct. 5.

• The merged company also needs to decide on a new name, with a decision possible as soon as this week.
• What exact title and responsibilities Kreiz will hold has not been confirmed.
• How Kreiz's role will interact with WBD international chief Gerhard Zeiler and Paramount international executive Kevin MacLellan is unclear.
• Whether the Barbie sequel or other Mattel IP projects will advance under the new leadership structure remains uncertain.