Mattel Announces Roger Lynch as Chairman and Chief Executive Officer Succeeding Ynon Kreiz (Form 8-K)

Mattel Announces Roger Lynch as Chairman and Chief Executive Officer Succeeding Ynon Kreiz

EL SEGUNDO, Calif., September 30, 2026 - The Board of Directors of Mattel, Inc. (NASDAQ: MAT) today announced the appointment of Roger Lynch, current Board member and Independent Lead Director, as Chairman effective October 2, 2026, and Chief Executive Officer effective on or before November 2, 2026. He succeeds Ynon Kreiz, who will step down as Chairman and Chief Executive Officer effective October 2, 2026, to take a senior leadership position at another public company. The Board has appointed current Mattel Board member Diana Ferguson as its new Independent Lead Director.

Mr. Lynch has served as a member of Mattel's Board since 2018 and brings extensive leadership experience spanning media, technology, and consumer businesses. He has served as Chief Executive Officer of Condé Nast since 2019, where he has led the global media company and its portfolio of influential brands through a period of significant change. Under Lynch's leadership, the company unified global operations and expanded and tailored IP monetization opportunities for its brands, driving significant and consistent profit growth since 2020. Throughout his career, which has included CEO roles at Pandora, Sling, Video Networks International, and Chello Broadband. Mr. Lynch has built and scaled global consumer businesses at the intersection of media and technology, with deep experience navigating shifts in industry dynamics across content, distribution, and consumer behavior.

The appointment of Mr. Lynch follows a comprehensive succession planning process. Board member Judy Olian, who has led the succession process, said: "Roger is a visionary leader with a track record of growing global companies at the forefront of changing industry and consumer trends. Throughout his service on the Board, Roger has been an invaluable contributor to shaping the company's direction in the midst of its expansion into entertainment and digital products. The Board is most grateful for Ynon's eight years of transformational leadership, and wishes him every success in his new role. Ynon leaves an invaluable legacy of transitioning Mattel from a toy manufacturer to a leading IP-driven play and family entertainment company. Knowing Roger as we do, we are confident that he and the talented Mattel team will build on that powerful foundation, and continue to advance our strategy to leverage our iconic brand portfolio."

Lynch said: "I am honored by the Board's confidence in me and couldn't be more excited to lead the incredible team at Mattel. Throughout my years on the Board, I have admired Mattel's brands, its talented people, and unique culture. I am especially grateful to Ynon for his many years of outstanding leadership and service to the company. During his tenure, Mattel has leveraged the power of its world-class brands, attracted exceptional entertainment partners, and strengthened its balance sheet. The company is well positioned for its next phase of profitable growth and its exciting new chapter."

Kreiz said: "It has been a privilege to lead Mattel, with a global team dedicated to its mission and purpose, and I am proud of all we have achieved together. Mattel is in a position of strength, with a world-class brand portfolio, product offering, and global capabilities. I am grateful to the Board, management team, and entire Mattel organization for their commitment and collaboration during the past eight years, and I have every confidence the company will continue to thrive under Roger's leadership."

During Mr. Kreiz's tenure, Mattel has strengthened its leadership across key toy categories, ranking number one globally in Dolls, Vehicles, and Infant, Toddler & Preschool. Hot Wheels is on track for its ninth consecutive growth year, the company has continued to build momentum in Action Figures, and successfully launched Mattel Brick Shop. A partner of choice for major entertainment companies, Mattel has earned several new or renewed entertainment licenses, including Disney Princess and Frozen, Teenage Mutant Ninja Turtles, Toy Story, KPop Demon Hunters, and DC, among others.

1

The company has also expanded its brands into new entertainment verticals, including film, television, consumer products, digital games, live events and experiences, and publishing. Mattel Studios' first theatrical release, Barbie, became the number one global box office film of 2023 and Warner Bros. Pictures' highest-grossing movie of all time, and Mattel Studios continues to expand its film slate. Mattel has accelerated its expansion into digital gaming with the full ownership of Mattel163, advancing its mobile game development, publishing, and digital customer acquisition capabilities. The company has also restructured and diversified its supply chain, driving increased productivity and efficiency across its global manufacturing footprint. Mattel has significantly increased free cash flow and strengthened its balance sheet, returning to an investment-grade credit rating and resuming share repurchases.

About Roger Lynch

Mr. Lynch has extensive experience overseeing companies with global brand portfolios and creating innovative business models that embrace technological change. He currently serves as Chief Executive Officer of Condé Nast, the global media company, reaching more than one billion consumers in 32 markets worldwide. He transformed Condé Nast with growth in subscriptions, video, live experiences, commerce, and strategic partnerships, alongside continued investment in world-class journalism and technology. During Mr. Lynch's tenure, the company achieved sustained revenue and profit growth while expanding its global reach and cultural influence.

Previously, Mr. Lynch served as President and Chief Executive Officer of Pandora, then the largest music streaming service in the U.S., and before that, as the founding CEO of Sling TV (owned by DISH Network), where he led the creation, launch, and scaling of the then largest U.S. over-the-top television service. Prior to joining DISH, Mr. Lynch served as Chairman and CEO of Video Networks International, Ltd., an IPTV technology company in the U.K. He also previously served as President and CEO of Chello Broadband N.V., a broadband Internet service provider with operations in ten European countries.

Mr. Lynch currently serves on the Board of Directors of Condé Nast, the US China Business Council, the Partnership for New York City, the News Media Alliance, and the Councilors of the Dornsife College of Letters, Arts and Sciences at the University of Southern California. He received his Master of Business Administration with the highest distinction from the Tuck School of Business at Dartmouth College and his Bachelor of Science in Physics from the University of Southern California.

About Diana Ferguson

Ms. Ferguson has served on Mattel's Board of Directors since 2020. She brings extensive leadership, finance, strategy, human capital management, and consumer products experience, including serving as Chief Financial Officer for several consumer products companies, as well as significant public company board experience. Ms. Ferguson currently serves as Principal of Scarlett Investments, LLC and as a director and Governance Committee Chair of Gartner, Inc., and Chair of the Board and Compensation & Talent Committee of Sally Beauty Holdings, Inc. She also currently chairs Mattel's Audit Committee.