David Ellison Picks Mattel Veteran Ynon Kreiz as Co-CEO to Steer Paramount-Warner Bros. Behemoth
Ellison said Kreiz will handle operations and merger integration while he focuses on creative strategy and technology at the combined media company.
- Following a federal judge's approval of an antitrust settlement, David Ellison announced Ynon Kreiz as Co-CEO of the $111 billion Paramount Skydance Corporation, effective at closing.
- Kreiz departed his role at Mattel, where he transformed the toy maker into an entertainment studio; Mattel's Barbie movie grossed over $1.4 billion globally in 2023 under his leadership.
- Under the division of labor, Ellison oversees creative and tech strategy while Kreiz manages day-to-day operations. Ellison called Kreiz a 'proven builder and operator,' saying there is 'nobody I'd rather have standing next to me.'
- The merger aims to create a 'next-generation global media company' that is 'creator-first, tech-forward and built to scale globally,' Ellison said Wednesday, calling it a 'transformational moment for our industry.'
- Mattel faces financial headwinds since Kreiz's exit, with shares down over 24% in the past 12 months. This summer's 'Masters of the Universe' film fell short of expectations, complicating the toymaker's entertainment strategy.
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Paramount’s new co-CEO once hired a barista he met at a cafe with no resume. His advice to Gen Z: ‘Look up and make eye contact'
Billionaire-heir David Ellison tapped Mattel’s Ynon Kreiz as his No. 2 at Paramount after decades of betting on unconventional ideas, including Barbie and a barista.
David Ellison Picks Mattel Veteran Ynon Kreiz as Co-CEO to Steer Paramount-Warner Bros. Behemoth
David Ellison has named former Mattel CEO Ynon Kreiz as co-CEO of the combined Paramount and Warner Bros. Discovery entity set to form next week. Kreiz will handle operations and integration while Ellison focuses on strategy and creative direction. The move follows immediate court approval of the $111 billion merger settlement.
Here's what David Ellison told Paramount employees about the new co-CEO he just hired
David Ellison has hired Ynon Kreiz as a co-CEO of the combined Paramount-WBD.Patrick T. Fallon/AFP via Getty Images; John Nacion/Variety via Getty ImagesDavid Ellison just introduced Ynon Kreiz as co-CEO to Paramount employees.Kreiz, who's been Mattel's CEO, joins as Paramount prepares to take over Warner Bros. Discovery.Read Ellison's full memo about Kreiz, whom he said "cares deeply about our creative mission."Paramount Skydance's David Elliso…
Ynon Kreiz Named Co-CEO Of Paramount Alongside David Ellison
Mere minutes after a federal judge signed off Wednesday on the antitrust settlement deal between Paramount, Warner Bros Discovery and a dozen blue state attorneys general, David Ellison has named Ynon Kreiz co-CEO of his soon-to-expand media giant. In a statement, Paramount said the former Mattel CEO would assume his new post upon the close […]
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