video Finance Videos
Mattel CEO resigns, interim CEO named
Monday, January 26, 2015 - 01:38
The CEO of Mattel steps down as the company warned of a fifth straight decline in quarterly sales. Shartia Brantley reports.
▲ Hide Transcript
▶ View Transcript
New year, new C-E-O for Mattel. Bryan Stockton resigned after three years as CEO. This announcement surprised analysts like Needham & Company's Sean McGowan: SOUNDBITE: SEAN MCGOWAN, ANALYST, NEEDHAM & COMPANY (ENGLISH) SAYING: "I had heard some rumblings that certain elements on the board were dissatisfied. And certainly look at the performance that something was lacking, but I thought he'd at least have the rest of 2015 to play out because it takes a long time for a CEO to really have a big impact on a company's product lines." Mattel, which is home to the Barbie, American Girl and Fisher-Price brands, brought in board member Christopher Sinclair to serve as chairman and interim CEO. The company also warned of a fifth straight fall in quarterly sales. Barbie sales have fallen for nearly three years and its American Girl and Monster High dolls have not been able to offset the decline. Besides finding a new CEO, Sinclair must provide a short-term plan to boost Mattel's bottom line. SOUNDBITE: SEAN MCGOWAN, ANALYST, NEEDHAM & COMPANY (ENGLISH) SAYING: "Communicate the message of what direction the company needs to go and in the meantime what costs need to be looked at. What are going to be the strategic priorities of the company in this interim period." McGowan says Mattel might cast a wide net beyond the toy industry in its search for a replacement, and its brand recognition may speed up the process. SOUNDBITE: SEAN MCGOWAN, ANALYST, NEEDHAM & COMPANY (ENGLISH) SAYING: "I think we're talking months, not quarters, but certainly more than one month. I would be surprised if the middle of the year came and they didn't have a full-time candidate." Mattel is expected to report earnings on Friday.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code
Mattel CEO resigns, interim CEO named
Monday, January 26, 2015 - 01:38
Top News »
1:07pm EST - (1:05)
12:54pm EST - (1:03)
12:10pm EST - (1:45)
11:53am EST - (1:59)
10:49am EST - (0:59)
9:42am EST - (1:10)
6:21am EST - (2:06)
2:19am EST - (1:56)
2:18am EST - (2:15)
Thu, Feb 14, 2019 - (0:58)
Thu, Feb 14, 2019 - (1:36)
Thu, Feb 14, 2019 - (2:50)
Migrant Crisis »
Thu, Nov 15, 2018 - (2:23)
Thu, Nov 15, 2018 - (1:26)
Fri, Mar 16, 2018 - (0:50)
Fri, Dec 22, 2017 - (1:52)
Fri, Dec 22, 2017 - (1:07)
Fri, Dec 22, 2017 - (1:37)
Editors' Picks »
11:40am EST - (1:55)
Thu, Feb 14, 2019 - (2:50)
Thu, Feb 14, 2019 - (2:00)
Thu, Feb 14, 2019 - (1:24)
Thu, Feb 14, 2019 - (1:58)
Thu, Feb 14, 2019 - (1:15)
Wed, Feb 13, 2019 - (1:40)
Wed, Feb 13, 2019 - (1:40)
Tue, Feb 12, 2019 - (1:48)
Tue, Feb 12, 2019 - (1:38)
Politics »
12:54pm EST - (1:03)
12:10pm EST - (1:45)
11:53am EST - (1:59)
10:49am EST - (0:59)
Thu, Feb 14, 2019 - (1:43)
Thu, Feb 14, 2019 - (1:15)
Thu, Feb 14, 2019 - (0:59)
Thu, Feb 14, 2019 - (1:27)
Thu, Feb 14, 2019 - (2:41)
Thu, Feb 14, 2019 - (1:56)
Thu, Feb 14, 2019 - (1:23)
Wed, Feb 13, 2019 - (1:59)
Innovations »
1:42pm EST - (1:20)
1:40pm EST - (1:13)
Thu, Feb 14, 2019 - (1:23)
Thu, Feb 14, 2019 - (1:21)
Thu, Feb 14, 2019 - (1:57)
Thu, Feb 14, 2019 - (1:26)
Mon, Feb 11, 2019 - (1:32)
Fri, Feb 08, 2019 - (2:05)
Thu, Feb 07, 2019 - (1:38)
Wed, Feb 06, 2019 - (1:27)
Entertainment »
1:24pm EST - (1:24)
7:18am EST - (2:20)
6:03am EST - (2:04)
Thu, Feb 14, 2019 - (2:00)
Thu, Feb 14, 2019 - (0:42)
Thu, Feb 14, 2019 - (2:19)
Thu, Feb 14, 2019 - (1:23)
Wed, Feb 13, 2019 - (0:47)
Wed, Feb 13, 2019 - (0:52)
Wed, Feb 13, 2019 - (0:50)
Wed, Feb 13, 2019 - (0:46)
Wed, Feb 13, 2019 - (1:40)
Rough Cuts »
1:24pm EST - (1:24)
12:54pm EST - (1:03)
12:10pm EST - (1:45)
11:53am EST - (1:59)
9:11am EST - (0:51)
7:18am EST - (2:20)
7:04am EST - (1:00)
6:34am EST - (0:59)
6:03am EST - (2:04)
5:29am EST - (0:33)
Thu, Feb 14, 2019 - (2:00)
Thu, Feb 14, 2019 - (0:58)
Moving Pictures »
Fri, Feb 01, 2019 - (2:27)
Wed, Jan 02, 2019 - (2:29)
Mon, Dec 17, 2018 - (2:17)
Fri, Nov 30, 2018 - (2:45)
Thu, Nov 22, 2018 - (2:41)
Mon, Oct 01, 2018 - (2:30)
Fri, Aug 31, 2018 - (2:23)
Tue, Jul 31, 2018 - (1:44)
Fri, Jun 29, 2018 - (2:05)
Fri, Jun 01, 2018 - (2:38)
Reuters Investigates »
Wed, Oct 11, 2017 - (10:18)
Wed, Aug 23, 2017 - (6:44)
Thu, Mar 16, 2017 - (2:26)
Tue, Nov 01, 2016 - (2:15)
Thu, Sep 29, 2016 - (2:19)
Fri, Aug 05, 2016 - (2:04)
Mon, Mar 28, 2016 - (3:02)
Thu, Mar 10, 2016 - (2:34)
Mon, Dec 07, 2015 - (2:58)
Mon, Dec 07, 2015 - (2:20)
Mon, Dec 07, 2015 - (0:35)
Mon, Dec 07, 2015 - (3:53)
Dateline Asia »
Tue, Dec 05, 2017 - (2:06)
Tue, Dec 05, 2017 - (2:11)
Fri, Dec 01, 2017 - (2:04)
Thu, Nov 30, 2017 - (2:10)
Thu, Nov 30, 2017 - (2:14)
Wed, Nov 29, 2017 - (2:11)
Tue, Nov 28, 2017 - (1:55)
Tue, Nov 28, 2017 - (2:21)
Mon, Nov 27, 2017 - (2:25)
Fri, Nov 24, 2017 - (2:16)
Fri, Nov 24, 2017 - (2:14)
Thu, Nov 23, 2017 - (2:18)