Ferguson Will Serve on the Company’s Audit
Committee and Assume the Role of Audit Committee Chair on Sept. 1,
2020
Mattel, Inc. (NASDAQ: MAT) announced today that Diana S.
Ferguson, Chief Financial Officer of Cleveland Avenue LLC, has been
appointed to the Company’s Board of Directors effective July 21,
2020. Ferguson will serve on the Audit Committee of the Board and
assume the role of Chair of the Audit Committee on Sept. 1,
2020.
“Diana is a highly experienced executive who brings a proven
track record of corporate financial management and strategic
planning to our Board,” said Ynon Kreiz, Chairman and CEO of
Mattel. “We look forward to benefiting from her insights and
perspectives as we continue to execute our strategy to transform
Mattel into an IP-driven, high-performing toy company to drive
growth and value for our shareholders.”
“Mattel is a company with deep societal impact that plays an
important role in the lives of children and families around the
world. I look forward to working with Ynon and the rest of the
Board on the transformation journey that is well under way,” said
Ferguson.
Ferguson currently serves as Chief Financial Officer of
Cleveland Avenue LLC, a privately held venture capital and
consulting firm. She has also served as a principal of Scarlett
Investments LLC, a firm that invests in and advises middle-market
consumer products companies, which she founded in 2013. Previously,
Ferguson was Chief Financial Officer of the Chicago Board of
Education, leading a staff of more than 200 professionals and
managing all aspects of the organization’s more than $6 billion
financial operations.
Prior to joining the Chicago Board of Education, Ferguson was
Senior Vice President and Chief Financial Officer of The Folgers
Coffee Company, a division of Procter and Gamble, and was Executive
Vice President and Chief Financial Officer of Merisant Worldwide.
Earlier in her career, she held the roles of Senior Vice President
and Chief Financial Officer of Sara Lee Foodservice and Senior Vice
President of Strategy & Corporate Development of Sara Lee
Corporation, where she played a leadership role in the Company's
portfolio transformation, including the successful spin-off of
Hanesbrands Inc., as well as several business divestitures and
acquisitions.
Ferguson is a member of the Board of Directors of Frontier
Communications, where she serves on the Nominating and Governance
Committee and chairs the Compensation Committee. She is also a
member of the Boards of Directors of Invacare Corporation, where
she serves on the Audit and Nominating and Governance Committees,
and Sally Beauty Holdings, where she serves on the Audit Committee
and is Vice Chair of the Compensation Committee. From 2008-2016,
Ferguson was a member of the Board of Directors of TreeHouse Foods,
where she chaired the Audit Committee for three years and served on
the Compensation Committee.
Mattel’s current Board members are: Ynon Kreiz; R. Todd Bradley,
prior CEO of Mozido, LLC; Adriana Cisneros, CEO of Cisneros Group
of Companies; Michael Dolan, prior Chief Executive Officer of
Bacardi Limited; Diana Ferguson, Chief Financial Officer of
Cleveland Avenue LLC; Soren Laursen, prior CEO of TOP-TOY; Ann
Lewnes, Executive Vice President and Chief Marketing Officer of
Adobe Systems Incorporated; Roger Lynch, CEO of Condé Nast; Dominic
Ng, Chairman and CEO of East West Bancorp, Inc. and East West Bank;
and Dr. Judy Olian, President of Quinnipiac University.
About Mattel
Mattel is a leading global toy company and owner of one of the
strongest catalogs of children’s and family entertainment
franchises in the world. We create innovative products and
experiences that inspire, entertain and develop children through
play. We engage consumers through our portfolio of iconic brands,
including Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas
& Friends, UNO, and MEGA, as well as other popular intellectual
properties that we own or license in partnership with global
entertainment companies. Our offerings include film and television
content, gaming, music and live events. We operate in 35 locations
and our products are available in more than 150 countries in
collaboration with the world’s leading retail and ecommerce
companies. Since its founding in 1945, Mattel is proud to be a
trusted partner in empowering children to explore the wonder of
childhood and reach their full potential.
Forward-Looking Statements
This press release contains a number of forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements can be identified by
the fact that they do not relate strictly to historical or current
facts. The use of words such as “anticipates,” “expects,”
“intends,” “plans,” “confident that” and “believes,” among others,
generally identify forward-looking statements. These
forward-looking statements are based on currently available
operating, financial, economic and other information and
assumptions, 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, and are
currently, or in the future could be, amplified by the COVID-19
pandemic. Specific factors that might cause such a difference
include, but are not limited to: (i) potential impacts on the
COVID-19 pandemic on Mattel’s business operations, financial
results, and financial position and on the global economy,
including its impact on Mattel’s sales; (ii) Mattel’s ability to
design, develop, produce, manufacture, source and ship products on
a timely and cost-effective basis, as well as interest in and
purchase of those products by retail customers and consumers in
quantities and at prices that will be sufficient to profitably
recover Mattel’s costs; (iii) downturns in economic conditions
affecting Mattel’s markets which can negatively impact retail
customers and consumers, and which can result in lower employment
levels, lower consumer disposable income and spending, including
lower spending on purchases of Mattel’s products; (iv) other
factors which can lower discretionary consumer spending, such as
higher costs for fuel and food, drops in the value of homes or
other consumer assets, and high levels of consumer debt; (v)
potential difficulties or delays Mattel may experience in
implementing cost savings and efficiency enhancing initiatives;
(vi) other economic and public health conditions or regulatory
changes in the markets in which Mattel and its customers and
suppliers operate, which could create delays or increase Mattel’s
costs, such as higher commodity prices, labor costs or
transportation costs, or outbreaks of disease; (vii) currency
fluctuations, including movements in foreign exchange rates, which
can lower Mattel’s net revenues and earnings, and significantly
impact Mattel’s costs; (viii) the concentration of Mattel’s
customers, potentially increasing the negative impact to Mattel of
difficulties experienced by any of Mattel’s customers, or changes
in their purchasing or selling patterns; (ix) the future
willingness of licensors of entertainment properties for which
Mattel currently has licenses or would seek to have licenses in the
future to license those products to Mattel; (x) the inventory
policies of Mattel’s retail customers, including retailers’
potential decisions to lower their inventories, even if it results
in lost sales, as well as the concentration of Mattel’s revenues in
the second half of the year, which coupled with reliance by
retailers on quick response inventory management techniques
increases the risk of underproduction of popular items,
overproduction of less popular items and failure to achieve
compressed shipping schedules; (xi) the increased costs of
developing more sophisticated digital and smart technology
products, and the corresponding supply chain and design challenges
associated with such products; (xii) work disruptions, which may
impact Mattel’s ability to manufacture or deliver product in a
timely and cost-effective manner; (xiii) the bankruptcy and
liquidation of Mattel’s significant retailers, or the general lack
of success of one of Mattel’s significant retailers which could
negatively impact Mattel’s revenues or bad debt exposure; (xiv) the
impact of competition on revenues, margins and other aspects of
Mattel’s business, including the ability to offer products which
consumers choose to buy instead of competitive products, the
ability to secure, maintain and renew popular licenses and the
ability to attract and retain talented employees; (xv) the risk of
product recalls or product liability suits and costs associated
with product safety regulations; (xvi) changes in laws or
regulations in the United States and/or in other major markets,
such as China, in which Mattel operates, including, without
limitation, with respect to taxes, tariffs, trade policies or
product safety, which may increase Mattel’s product costs and other
costs of doing business, and reduce Mattel’s earnings; (xvii)
failure to realize the planned benefits from any investments or
acquisitions made by Mattel; (xviii) the impact of other market
conditions, third party actions or approvals and competition which
could reduce demand for Mattel’s products or delay or increase the
cost of implementation of Mattel’s programs or alter Mattel’s
actions and reduce actual results; (xix) changes in financing
markets or the inability of Mattel to obtain financing on
attractive terms; (xx) the impact of litigation, arbitration, or
regulatory decisions or settlement actions; (xxi) uncertainty from
the expected discontinuance of LIBOR and transition to any other
interest rate benchmark; and (xxii) other risks and uncertainties
as may be described in Mattel’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, 2019 and Quarterly Report on Form 10-Q for the
quarter ended March 31, 2020, as well as in Mattel’s other public
statements. Mattel does not update forward-looking statements and
expressly disclaims any obligation to do so except as required by
law
MAT-FIN MAT-CORP
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version on businesswire.com: https://www.businesswire.com/news/home/20200722005490/en/
News Media Dena Cook dena.cook@mattel.com 310-252-4247
Securities Analysts David Zbojniewicz
david.zbojniewicz@mattel.com 310-252-2703
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