Richard Dickson Appointed as President and
Chief Operating OfficerMichael Dolan Appointed as Independent Lead
Director
Mattel, Inc. (NASDAQ: MAT) today announced Christopher A.
Sinclair has been appointed as Chief Executive Officer, effective
immediately. Mr. Sinclair, who has been serving as Interim CEO
since January 2015, also will continue as Mattel’s Chairman. Mattel
also announced the appointment of Michael J. Dolan as Independent
Lead Director.
Said Michael J. Dolan, Mattel’s Independent Lead Director,
“Since stepping in as Interim CEO in January, Chris has been
extremely active inside the Company, developing with the Board and
the Mattel management team a comprehensive plan to improve the
Company’s performance and make the most of our incredible brands
and opportunities. He is moving with urgency and we are delighted
that, with his agreement to sign on as CEO and continue to lead the
effort personally, there will not be any delay in implementing the
changes necessary to get Mattel back on track.”
Said Chris Sinclair, “The Board and management team are focused
on achieving a rapid turnaround at Mattel and we have a clear game
plan for what needs to be addressed. This Company has a powerful
portfolio of global lifestyle brands with untapped IP potential,
extraordinary toy design and development expertise and unmatched
global sales and supply chain capabilities. By moving quickly to
reduce bureaucracy that has slowed decision making and diffused
accountability, we are already beginning to benefit from greater
energy and focus throughout the Company. While we still have
challenges and lots of work to do, I am confident that, with a
newly revitalized management team, including talent that we are
sourcing from outside Mattel, we can quickly capitalize on growth
opportunities and perform better for our customers, delight
consumers and reward our shareholders. I look forward to providing
more detail about our initiatives and plans on our April 16
earnings call.”
Richard Dickson, 47, also was appointed President and Chief
Operating Officer. In his expanded role, Mr. Dickson will have
responsibility for all brands and commercial operations. Mr.
Dickson has served as President, Chief Brands Officer since January
2015 after rejoining the Company in May 2014 as Chief Brands
Officer. He had worked at Mattel from 2000 to 2010 when he left to
become President and CEO of The Jones Group, Inc.’s, branded
businesses. Prior to joining The Jones Group, Inc., Mr. Dickson was
General Manager and Senior Vice President of Barbie and led the
revitalization of that brand.
Commenting on the appointment of Richard Dickson as President
and COO, Mr. Sinclair added, “Richard is a recognized creative and
operational talent and he knows Mattel and its brands extremely
well. He has been a strong partner to me over these last few months
and I look forward to working closely with him in his expanded
role.”
Christopher A. Sinclair
Biography
Christopher Sinclair, 64, has served on Mattel's Board of
Directors since 1996 and served as Independent Lead Director and
Chair of the Audit Committee and Executive Committee from 2011 to
January 2015. Mr. Sinclair has served as Executive Chairman of
Scandent Holdings, an information technology investment company,
from 2002 to 2008, and also served as Executive Chairman of
Cambridge Solutions Corporation Ltd., a leader in providing
information technology and business process outsourcing services,
from 2005 to 2009. Prior to that, he served as Managing Director of
Manticore Partners, LLC, a venture capital advisory firm, from 2000
to 2005, as an Operating Partner of Pegasus Capital Advisors, LP, a
private equity firm, from 2000 to 2002, and as Chairman of the
Board and Chief Executive Officer of Caribiner International, Inc.,
from 1999 to 2000. Earlier, he served as President and Chief
Executive Officer of Quality Food, Inc., Chairman and Chief
Executive Officer of Pepsi-Cola Company and President and Chief
Executive Officer of PepsiCo Foods & Beverages International
and Pepsi-Cola International.
Mr. Sinclair recently joined the board of Reckitt Benckiser
Group plc. He has also served on the Board of Directors of Foot
Locker, Inc. from 1995 to 2008, where he was Chairman of the
Finance Committee and a member of the Compensation Committee,
Cambridge Solutions Corporation, Ltd. from 2003 to 2009 and Perdue
Farms from 1992 to 2000.
Mr. Sinclair was born and raised in Asia. He holds a bachelor's
degree in Business Administration from the University of Kansas and
an MBA from the Tuck School of Business at Dartmouth College.
Richard Dickson
Biography
Prior to rejoining Mattel in May 2014, Mr. Dickson was President
and CEO of Branded Businesses at The Jones Group, Inc. from 2010 to
May 2014. Mr. Dickson was responsible for devising and implementing
The Jones Group's expansion strategy, growing the company to
include new brands and categories through acquisition and
inception. From 2008 to 2010, Mr. Dickson served as General Manager
and Senior Vice President of Barbie at Mattel. From 2000 to 2008,
he was Senior Vice President at Mattel overseeing Consumer
Products, Marketing, Media, Entertainment and Packaging. Prior to
Mattel, Mr. Dickson was Vice President of Brand Management and
Merchandising at Estée Lauder Companies, Inc. and was a principal
with Gloss.com, an e-commerce beauty website he helped develop and
manage until its acquisition by Estée Lauder. Mr. Dickson started
his career and spent nearly a decade with Bloomingdale's, the
leading U.S. fashion retailer.
About Mattel
The Mattel family of companies (Nasdaq: MAT) is a worldwide
leader in the design, manufacture and marketing of toys and family
products. Mattel's portfolio of best-selling brands includes
Barbie®, the most popular fashion doll ever produced, Hot Wheels®,
Monster High®, American Girl®, Thomas & Friends® and
Fisher-Price® brands, including Little People® and Power Wheels®,
MEGA® Brands, including MEGA BLOKS® and RoseArt®, as well as a wide
array of entertainment-inspired toy lines. In 2013, Mattel was
named one of the “World's Most Ethical Companies” by Ethisphere
Magazine and in 2014 ranked No. 5 on Corporate Responsibility
Magazine's "100 Best Corporate Citizens" list. With worldwide
headquarters in El Segundo, Calif., Mattel's companies employ
nearly 30,000 people in 40 countries and territories and sell
products in more than 150 nations. At Mattel, we are Creating the
Future of Play. Visit us at www.mattel.com, www.facebook.com/mattel
or www.twitter.com/mattel.
Forward-Looking Statements
This press release contains forward-looking statements on a
variety of matters. These forward-looking statements are based on
currently available operating, financial, economic and other
information and are subject to a number of significant risks and
uncertainties. A variety of factors, many of which are beyond our
control, could cause actual future results to differ materially
from those projected in the forward-looking statements. Some of
these factors are described in the Company's periodic filings with
the Securities and Exchange Commission, including the "Risk
Factors" section of Mattel's Annual Report on Form 10-K for the
fiscal year ended December 31, 2014 and Mattel's Quarterly Reports
on Form 10-Q for fiscal year 2014, as well as in Mattel's other
public statements. Mattel does not update forward-looking
statements and expressly disclaims any obligation to do so.
MAT-CORP
Mattel, Inc.News MediaAlex Clark,
310-252-6397alex.clark@mattel.comorSecurities AnalystsMartin
Gilkes, 310-252-2703martin.gilkes@mattel.com
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