Ex-Mattel CEO Ynon Kreiz In Line For High-Level Paramount Exec Post

Former Mattel CEO Ynon Kreiz has talked with Paramount CEO David Ellison about taking on a senior executive role, sources familiar with the discussions tell Deadline.

Mattel announced Wednesday morning that Kreiz was stepping down after a succession process, with former Condé Nast CEO Roger Lynch taking over as top exec. The toymaker said Kreiz was set to take “a senior leadership position at another public company.”

Paramount is moving toward closing its $110 billion acquisition of Warner Bros. Discovery, which it can do after a federal judge approves a settlement reached with state attorneys general in an antitrust lawsuit. The deal is expected to be finalized next week, and each day since last week’s settlement has brought new developments about the executive team, a massive debt offering, and plans for the combined company’s stock listing.

Paramount did not immediately respond to Deadline’s request for comment. A Mattel rep declined to comment.

While the C-suite at Paramount is fairly well-stocked, there has been a key vacancy since Jeff Shell departed as president last April. Shell, the former CEO of NBCUniversal who had been an important communicator to Wall Street of the company’s entertainment strategy, exited abruptly after revelations of his dealings with whistleblower and professional gambler RJ Cipriani.

The exact title and scope of Kreiz’s role is not finalized, a person familiar with the talks tells Deadline, and a number of scenarios are in play.

Paramount and WBD staffers are still digesting Tuesday’s big org-chart news, which had Cindy Holland exiting the company ahead of the merger close. Her departure clears a path for HBO veteran Casey Bloys to run the overall streaming programming operation.

Kreiz ran the U.S.-based Mattel for eight years, building its Hollywood presence and helping birth the Barbie phenomenon in 2023, though momentum has slowed since that breakout hit. A sequel has not gained traction at Warner Bros. amid budget concerns, and would-be franchise starter Masters of the Universe fizzled at the summer box office. A movie based on Mattel’s Matchbox cars will debut on Apple TV next month.

During the eight years Kreiz spent at the helm of Mattel, the company’s share price has been flat, reflecting challenges from Covid, the global supply chain and tariffs faced by all toymakers. Nevertheless, Kreiz would bring valuable international and finance experience to Paramount. After the merger, with properties like HBO and CNN added to MTV and Nickelodeon, the company will have a large footprint outside the U.S.

Prior to Mattel, Kreiz was CEO of two international players, Endemol Group and Fox Kids Europe. He was also general partner at Balderton Capital (formerly Benchmark Capital Europe), specializing in early-stage media and technology investments.

The reigning presence at WBD outside of the U.S. is Gerhard Zeiler, a veteran of numerous regime changes who has managed to continue in senior roles even as Warner Bros. has had three owners in eight years. (Paramount will be its fourth.)

It isn’t yet clear how the org chart will look at the merged Paramount-WBD, but Kreiz is likely to have international businesses in his portfolio.

Former NBCU exec Kevin MacLellan currently leads Paramount+’s international networks and distribution operations, and is a supporter of Ellison, having been drafted in after Skydance bought the studio. In June, he told the Enders TMT Live Conference that they had spent a “fascinating hour” as Ellison ruminated on how tech could be applied to film and TV.

He oversees assets such as UK Network 5, Australia’s Network Ten and the international feeds of channels such as Comedy Central, MTV and Nickelodeon. Paramount’s international production has been wound down significantly over recent years.

Warner Bros. Discovery, meanwhile, is deeply ingrained in the UK production space as the owner of Leavesden Studio, where the upcoming Harry Potter series is being filmed. It also operates Warner Bros. International TV Production out of London, a unit that sells and produces local versions of shows such as ER, FBoy Island and Impractical Jokers.

Zeiler has led WBD’s international operation as president since Discovery took over Warners in 2022, though J.B. Perrette has worked with him to oversee the rollout of global streamer HBO Max.
Like Paramount, WBD operates a suite of international channels, including local feeds of CNN, TLC, Cartoon Network, Discovery and the T-Nets. It also owns a major Polish network, TVN, and operates Eurosport.

Paramount+ and HBO Max are both active content commissioners outside the U.S., with the former’s Tom Hardy crime drama MobLand Season 2 recently premiering. HBO Max is more active in non-English-language originals through the likes of Spanish drama When No One Sees Us and Turkish hits such as Magarsus & the First Gokturk. On the co-production front, HBO has invested in British series such as Half Man, Industry and It’s a Sin, and famously pre-bought Canadian hockey romance Heated Rivalry for the U.S. flagship.