Updated Version 1 - Mattel appoints board member Lynch as CEO, Kreiz leaves

Supplemented with relevant information, background, and details

Reuters, September 30 - Mattel (MAT.O) announced on Wednesday that board member Roger Lynch has been appointed as Chief Executive Officer, succeeding Ynon Kreiz. Kreiz will depart the toy maker to take a senior management position at another listed company.

The company said Kreiz, who has served as CEO since 2018, will step down on Friday.

The company's shares fell about 4% in pre-market trading.

Lynch, who has been a Mattel board member since 2018, is currently CEO of Condé Nast. He is expected to formally take over as CEO on or before November 2 this year.

Under Kreiz's leadership, Mattel has sought to diversify its business beyond traditional toys through entertainment and digital gaming initiatives.

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