Mattel’s Kreiz to join Warner Bros.-Paramount

Mattel CEO Ynon Kreiz is set to join David Ellison’s team at the newly combined Warner Bros. Discovery and Paramount, bringing with him senior leadership experience that could prove invaluable to the struggling studio. The specific role and title Kreiz will assume within the combined entity remain to be determined, according to sources familiar with the situation.

Kreiz has not yet commented on the matter, but Paramount declined to comment when asked for a statement. In a press release announcing his departure from Mattel, Kreiz expressed pride in the company's achievements under his leadership, noting that Mattel's transformation into an intellectual-property licensing powerhouse has effectively turned consumers into fans.

This transition, according to Kreiz, has created an audience that expands the opportunities available to the company. With Kreiz joining Ellison's team, the combined studio now has a growing roster of experienced operators to help navigate the challenges ahead, including tackling the company's massive $52 billion debt load. Kreiz's track record in turning around financially struggling companies, as demonstrated during his tenure at Mattel, will be crucial as Warner Bros.

Discovery and Paramount seek to reposition themselves as a studio focused on high-value intellectual property rather than more commoditized media.