El Segundo toymaker Mattel named Roger Lynch as its next chairman and chief executive officer on Wednesday, Sept. 30, replacing Ynon Kreiz after eight years leading the company.

Lynch, who has served on Mattel's board since 2018 and most recently as independent lead director, becomes chairman Friday, Oct. 2. He will formally assume the CEO title on or before Nov. 2, according to the company. Chief Legal Officer Jonathan Anschell will serve as interim principal executive officer in the gap, TipRanks reported based on a securities filing.

Kreiz steps down Oct. 2 to join Paramount. A separate Paramount Skydance press release announced the same day that Kreiz will serve as co-CEO of the anticipated combined Paramount and Warner Bros. Discovery company, starting Oct. 5. The merger is expected to close Oct. 6, Variety reported.

The transition carries weight in El Segundo.

Mattel, founded in 1945, is one of the city's largest private employers, with roughly 2,000 workers at its headquarters as of a 2023 company filing cited by the Los Angeles Times. The company cut 89 jobs at the El Segundo campus in January as part of a $200 million cost-savings push, the Daily Breeze reported. That round followed 120 layoffs in May 2025 affecting marketing, design and IT roles.

Lynch comes to the top job from Condé Nast, where he has served as CEO since 2019. Mattel's press release said he unified the media company's global operations and expanded how it monetizes intellectual property, driving consistent profit growth since 2020.

Before Condé Nast, Lynch served as founding CEO of Sling TV, then owned by Dish Network, and as president and CEO of Pandora, then the largest music streaming service in the U.S. He holds an MBA from Dartmouth's Tuck School of Business and a physics degree from the University of Southern California.

Board member Judy Olian, who led the succession planning process, called Lynch "a visionary leader with a track record of growing global companies at the forefront of changing industry and consumer trends" in the company's announcement.

Kreiz leaves behind a record heavy on entertainment expansion. Under his watch, Mattel Studios' first theatrical release, "Barbie," became the No. 1 global box office film of 2023. Hot Wheels is on track for its ninth consecutive growth year. The company earned new or renewed licenses for Disney Princess, Teenage Mutant Ninja Turtles, Toy Story and DC, among others, and returned to an investment-grade credit rating.

Mattel shares fell Sept. 30 following the announcement. Financial news account Hammerstone Markets noted on X that the press release did not include a reaffirmation of earnings guidance, which is a common practice during executive transitions.

Diana Ferguson, a board member since 2020 and current audit committee chair, takes over as independent lead director. Lynch's exact start date as CEO has not been announced beyond the Nov. 2 deadline.