Richard Dickson Appointed as President and Chief Operating Officer
Dolan Appointed as Independent Lead Director
EL SEGUNDO, Calif.--(BUSINESS WIRE)--
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
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.
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,
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.
Alex Clark, 310-252-6397
Martin Gilkes, 310-252-2703
Source: Mattel, Inc.
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