Mattel Chief Executive Officer Ynon Kreiz is stepping down from the toy manufacturer to join David Ellison as co-CEO at the newly combined Warner Bros. Discovery-Paramount media giant. The high-profile leadership transition was officially announced on Wednesday, September 30, 2026, marking a major shakeup in the entertainment and corporate sectors.
- A Strategic Division of Labor at Paramount-WBD
- Regulatory Clearance Clears the Path for the Mega-Merger
- Kreiz’s Legacy at Mattel and Entertainment Background
- Frequently Asked Questions About Ynon Kreiz and the Paramount-WBD Merger
- Who is Ynon Kreiz?
- What is Ynon Kreiz’s new role at Paramount?
- Who will replace Ynon Kreiz as CEO of Mattel?
- When does the Paramount and Warner Bros. Discovery merger close?
- How will leadership duties be split between David Ellison and Ynon Kreiz?
Following the departure announcement from Mattel-where Condé Nast CEO Roger Lynch was named as his successor-Kreiz’s new role at Paramount will officially begin on Monday, October 5, 2026. He will also join the company’s board of directors, sharing oversight of the multi-billion-dollar enterprise alongside Ellison.
A Strategic Division of Labor at Paramount-WBD
Under the leadership structure outlined by the company, David Ellison will remain Chairman and CEO, focusing heavily on long-term strategy, creative vision, talent relationships, strategic partnerships, technology, and capital allocation. Meanwhile, Ynon Kreiz will step into the co-CEO role with a clear operational remit: handling day-to-day management and steering the complex integration of the combined businesses.
“Bringing together Paramount and Warner Bros. Discovery to create a next-generation global media company is a transformational moment for our industry,” said Ellison in a statement. “In Ynon, I’m adding a partner with strong leadership and the operating firepower this integration demands. It’s a division of labor built on our complementary strengths, with clear reporting lines.”
Kreiz echoed this sentiment, pointing out that the media landscape sits at a vital crossroads. “The industry is at an inflection point, demanding evolution, investment, and a willingness to rethink business models,” Kreiz remarked. “I look forward to working with the leadership team to build a cohesive global entertainment platform.”
Regulatory Clearance Clears the Path for the Mega-Merger
The appointment of Kreiz closely follows a major legal and regulatory milestone for the media conglomerate. A federal judge officially approved Paramount’s settlement resolving an antitrust lawsuit brought forward by 12 state attorneys general, clearing the runway for the blockbuster deal to close.
The settlement includes binding commitments, such as investing a minimum of $1.5 billion over five years in domestic film and television production, releasing at least 30 theatrical films annually, and establishing an independent editorial board to oversee news operations like CNN and CBS News. With these hurdles cleared, the mega-merger is anticipated to finalize in early October 2026.
Kreiz’s Legacy at Mattel and Entertainment Background
During his tenure leading Mattel starting in 2018, Kreiz successfully shifted the traditional toy maker into an entertainment powerhouse. Under his leadership, Mattel launched high-profile cinematic projects, most notably spearheading Greta Gerwig’s billion-dollar box office smash hit Barbie in 2023, alongside ongoing developments for Hot Wheels and other franchise adaptations.
Before his time at Mattel, Kreiz built a robust media resume. He served as the chairman and CEO of Maker Studios before orchestrating its sale to Disney for $500 million, and previously held the position of chairman and CEO at European production giant Endemol. He also co-founded Fox Kids Europe alongside Haim Saban.
Market reactions to the executive shuffle were immediate, with Mattel shares dropping roughly 4 percent following the announcement of his exit. However, industry analysts note that Kreiz’s deep background in public company management, franchise building, and digital media operations will provide the steady operational firepower required to guide Paramount-WBD through its massive structural integration.
Frequently Asked Questions About Ynon Kreiz and the Paramount-WBD Merger
Who is Ynon Kreiz?
Ynon Kreiz is a veteran media executive and former CEO of Mattel, widely recognized for transforming the toy manufacturer into an entertainment studio through hits like the Barbie movie. He has previously served as CEO of Maker Studios and Endemol Group.
What is Ynon Kreiz’s new role at Paramount?
Ynon Kreiz is stepping down from Mattel to serve as co-CEO of the newly combined Paramount and Warner Bros. Discovery entity, working alongside Ellison and joining the company’s board of directors.
Who will replace Ynon Kreiz as CEO of Mattel?
Condé Nast CEO Roger Lynch was appointed as Mattel’s new chairman and CEO, effective immediately following Kreiz’s departure.
When does the Paramount and Warner Bros. Discovery merger close?
The merger is expected to close in early October 2026, following judicial approval of a settlement resolving an antitrust lawsuit with 12 state attorneys general.
How will leadership duties be split between David Ellison and Ynon Kreiz?
David Ellison will manage long-term strategy, creative vision, technology, and talent relations, while Ynon Kreiz will oversee day-to-day operations and the corporate integration of the combined media businesses.
