David Ellison Taps Mattel's Ynon Kreiz to Be Co-CEO of Merged Paramount-Warner Bros.
Variety • • business
Key Points:
- Ynon Kreiz, stepping down as CEO of Mattel after eight years, will become co-CEO of the newly merged Paramount and Warner Bros. Discovery, starting October 5, 2026, and will join the company's board of directors.
- David Ellison will serve as chairman and CEO, leading strategy, creative, and technology functions, while Kreiz will manage day-to-day operations and integration of the combined businesses.
- The merger between Paramount and Warner Bros. Discovery, valued at $111 billion, is expected to close on October 6, following a judge's approval of an antitrust settlement.
- Kreiz's appointment is part of a long-term plan by Ellison to combine the two companies and bring in a seasoned executive to operationalize and manage the integration, leveraging their complementary skills.
- Mattel named Roger Lynch as Kreiz's successor CEO, and credited Kreiz with significantly boosting its market share and overseeing the successful release of the blockbuster film "Barbie."
