On September 30, 2026, Mattel, Inc. announced a leadership transition, appointing Roger Lynch as the company's new Chairman and Chief Executive Officer. Mr. Lynch will assume the role of Chairman effective October 2, 2026, and will serve as CEO on a date mutually agreed with the Board, no later than November 2, 2026. He succeeds Ynon Kreiz, who resigned as CEO and Chairman effective October 2, 2026, to take a senior leadership position at another public company.
Mr. Lynch, age 63, has served on Mattel’s Board of Directors since 2018. Prior to this appointment, he served as Chief Executive Officer of Condé Nast since April 2019. His previous roles include President and CEO of Pandora and founding CEO of Sling TV. The Board also appointed Diana Ferguson as the new Independent Lead Director, effective October 2, 2026.
In connection with the transition, Jonathan Anschell, Mattel’s Executive Vice President, Chief Legal Officer and Secretary, has been appointed interim principal executive officer. Mr. Anschell, age 58, will serve in this role effective October 2, 2026, until Mr. Lynch assumes the CEO position.
Mr. Lynch entered into an offer letter with Mattel detailing his compensation package. His annual base salary is set at $2,300,000, with an annual target bonus opportunity of 200% of his base salary, commencing in the 2027 performance year. To replace a long-term incentive award he forfeited upon leaving his previous employer, Mr. Lynch is granted a 2026 annual equity award with a total target grant value of $10,000,000. Additionally, he will receive a new-hire performance-based restricted stock unit award valued at $6,000,000, which will vest based on Mattel achieving a relative total shareholder return of at least the 55th percentile of the S&P 500 over a three-year period.
The offer letter also includes a "make whole" cash signing bonus of $10,600,000 to compensate for forfeited 2026 bonus and 2024-2026 long-term incentive awards. This bonus is payable by December 31, 2026, subject to repayment if Mr. Lynch voluntarily terminates without good cause or is terminated for cause prior to December 31, 2027. Furthermore, Mr. Lynch will receive a relocation payment of $985,000, also subject to repayment terms based on the timing of his departure.
