Mattel CEO Ynon Kreiz to Lead Merged Paramount-Warner Bros.
Ynon Kreiz is leaving Mattel to become co-CEO of the combined Paramount and Warner Bros. Discovery alongside David Ellison.
Ynon Kreiz, the chief executive who steered Mattel through a remarkable brand revival, is departing the toy giant to take on one of the most consequential leadership roles in the media industry. He will serve as co-chief executive of the newly combined Paramount and Warner Bros. Discovery once that merger is finalized, sharing the top position with David Ellison.
The pairing of Kreiz and Ellison at the helm of the merged entertainment conglomerate reflects the scale and complexity of the deal, which will unite two of Hollywood's most storied studio systems under a single corporate structure. Co-CEO arrangements are relatively uncommon in major corporations and often signal a deliberate effort to balance different spheres of expertise within a newly formed organization.
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Kreiz built his reputation at Mattel by engineering a turnaround that included the blockbuster success of the 2023 Barbie film, demonstrating an ability to translate intellectual property into broad cultural and commercial impact — a skill set that will be closely watched as the merged media company seeks to compete against streaming giants. David Ellison, son of Oracle founder Larry Ellison, has been a driving force behind the Paramount acquisition through his Skydance Media venture.
The leadership announcement comes as the broader media industry continues to consolidate under mounting pressure from subscription fatigue, rising content costs, and intensifying competition from technology-driven platforms. How Kreiz and Ellison divide responsibilities at the combined entity remains to be detailed publicly.
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