Mattel names Roger Lynch chief executive officer and chairman

Mattel Inc. (MAT) said Wednesday that Roger Lynch has been appointed chief executive officer and chairman of the board.

Lynch, who has served on the board since 2018 and as independent lead director, will assume the chairman role effective Oct. 2, 2026, and the chief executive role on a date no later than Nov. 2, 2026. He succeeds Ynon Kreiz, who resigned as chief executive officer and chairman effective Oct. 2, 2026, to take a senior leadership position at another public company.

The company appointed Diana Ferguson as its new independent lead director, and Jonathan Anschell, executive vice president, chief legal officer and secretary, to serve as interim principal executive officer beginning Oct. 2, 2026, until Lynch assumes his role. Anschell will receive no additional compensation for his interim service.

Lynch, 63, previously served as chief executive officer of Condé Nast, Pandora, Sling TV, Video Networks International, and Chello Broadband. Under the terms of his offer letter dated Sept. 29, 2026, Lynch will receive an annual base salary of $2,300,000 and an annual target bonus opportunity under the Mattel Incentive Plan of 200% of his base salary, commencing with the 2027 performance year.

To replace equity and bonus awards forfeited from his previous employer, Lynch will receive a cash signing bonus of $10,600,000 payable no later than Dec. 31, 2026, subject to repayment if he voluntarily terminates without good reason or is terminated for cause prior to Dec. 31, 2027. He will also receive a make-whole restricted stock unit award with a grant date value of $6,000,000, fully vested upon grant on the last trading day of the month of his start date, subject to repayment terms if he leaves within two years.

Lynch will receive a new-hire performance-based restricted stock unit award with a grant date value of $6,000,000, vesting at the end of a three-year performance period subject to Mattel achieving a relative total shareholder return equal to or greater than the 55th percentile of the S&P 500 Index. He will also receive a 2026 annual equity award with a target value of $10,000,000, consisting of 60% performance-based restricted stock units and 40% restricted stock units.

In addition, Lynch will receive a relocation allowance of $985,000 payable no later than Dec. 31, 2026, subject to repayment provisions, up to $10,000 annually for financial counseling, an annual physical examination, legal fee reimbursement up to $25,000, a company-provided automobile and driver for business purposes, and coverage under the company's executive severance plan.

Judy Olian, board member leading 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.

Lynch said: Throughout my years on the Board, I have admired Mattel's brands, its talented people, and unique culture.

Kreiz said: Mattel is in a position of strength, with a world-class brand portfolio, product offering, and global capabilities.