Breaking News: Mattel Names Sinclair as CEO; Dickson as President, COO

Mattel, Inc., just announced that Christopher Sinclair has been appointed as CEO, effective immediately. Sinclair, who has been serving as interim CEO since January 2015, will also continue as Mattel’s chairman. Mattel also announced the appointment of Michael Dolan as independent lead director. Richard Dickson was appointed president and COO.

“The board and management team are focused on achieving a rapid turnaround at Mattel and we have a clear game plan for what needs to be addressed,” said Sinclair in a statement this afternoon. “This company has a powerful portfolio of global lifestyle brands with untapped IP potential, extraordinary toy design and development expertise, and unmatched global sales and supply chain capabilities. By moving quickly to reduce bureaucracy that has slowed decision making and diffused accountability, we are already beginning to benefit from greater energy and focus throughout the company. While we still have challenges and lots of work to do, I am confident that, with a newly revitalized management team, including talent that we are sourcing from outside Mattel, we can quickly capitalize on growth opportunities and perform better for our customers, delight consumers, and reward our shareholders. I look forward to providing more detail about our initiatives and plans on our April 16 earnings call.”

As president and COO, Dickson will have responsibility for all brands and commercial operations at Mattel. He has served as president, chief brands officer since January 2015 after rejoining the company in May 2014 as chief brands officer. He worked at Mattel from 2000–2010 when he left to become president and CEO of The Jones Group, Inc.’s, branded businesses.