April 22, 2025 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Mattel chairman and chief executive resigns

Christopher Sinclair, a member of the board since 1996, will take over as chairman and interim chief executive. Courtesy Photo
Christopher Sinclair, a member of the board since 1996, will take over as chairman and interim chief executive. Courtesy Photo

Mattel chairman and chief executive Bryan Stockton resigned as the toy giant biggest toymaker reported fourth-quarter net income of $149.9 million, or 44 cents per share, down 59 percent from the same quarter last year.

Christopher Sinclair, a member of the board since 1996, will take over as chairman and interim chief executive of the El Segundo-based firm.

Sinclair ran Caribiner International, Inc. in 1999-2000, was president and CEO of Quality Food Inc. in 1996-1998 and served in senior roles at PepsiCo.

“Mattel is an exceptional company with a great future but the Board believes that it is the right time for new leadership to maximize its potential,” he said. “We are committed to delivering improved growth and financial performance and remain confident in our ability to leverage our unmatched portfolio of brands, global scale and strong balance sheet as we execute on our strategic plan.”

Sales for the quarter ended Dec. 31 dropped about 6 percent to $1.99 billion.

Year-end earnings were $498.9 million, or $1.45 per share, compared with net income of $903.9 million, or $2.58 per share, in 2013.

Tags: , in News
Related Posts

Pepper Spray and Panic: LA Homeowners Targeted in Nighttime Burglaries

April 22, 2025

April 22, 2025

LAPD Hunts Suspects After One Resident Attacked in Beverly Grove Two separate home invasions late Friday night in Beverly Grove...

“We’re Better Than This”: Tour Business Owner Pleads for Protection After Third Burglary

April 21, 2025

April 21, 2025

Thieves hit Again, Stealing E-Bikes and Leaving a Wake of Damage in South La Cienega The frustrated owner of a...

Lawsuits Allege Insurance Giants Conspired to Undercut California Fire Victims

April 21, 2025

April 21, 2025

Two Lawsuits Accuse Top Carriers of Price-Fixing and Violating Antitrust Laws Attorneys representing homeowners impacted by California’s January wildfires have...

Cali Camp Welcomes Los Angeles Campers

April 21, 2025

April 21, 2025

By Susan Payne Roam streams, meadows and oak trees in the heart of rock-lined Topanga Canyon this summer at Cali...

Culver City Closes Streets for Earth Day to Encourage Green School Commutes

April 21, 2025

April 21, 2025

Pedal, Walk, or Roll: Culver City Schools Go Car-Free for Earth Day Culver City is taking its Earth Day celebration...

Mayor Karen Bass’ Budget Plan Proposes 1,647 Layoffs Amid $300M Liability Surge

April 21, 2025

April 21, 2025

Civilian LAPD Staff, Transportation, and Sanitation Departments Among Hardest Hit Mayor Karen Bass’ proposed city budget for the upcoming fiscal...

Santa Monica PD Makes Arrest in Ocean Front Walk Stabbing; Second Suspect Sought

April 21, 2025

April 21, 2025

Late-Night Stabbing in Santa Monica Prompts Manhunt After a shocking incident of violence in Santa Monica, a man has been...

ALPR Alerts Lead Culver City Police to Two Stolen Vehicles in Two Hours

April 21, 2025

April 21, 2025

Rapid-Response Tech Aids in Back-To-Back Arrests on Sepulveda Culver City police officers recovered two stolen vehicles within a two-hour period...

Registration is Open for Harvard-Westlake Summer Programs

April 21, 2025

April 21, 2025

By Susan Payne Summer programs at Harvard-Westlake are open for registration.  Participants can experience renowned programs in academics, visual arts,...

Los Angeles City Attorney Sues Over Illegal Rentals, Wildfire Price Gouging

April 20, 2025

April 20, 2025

City Attorney Seeks Permanent Ban and Millions in Penalties for Operators City Attorney Hydee Feldstein Soto has filed a civil...

Culver City Moves the Needle on Housing and Growth in Monthly Pipeline Update

April 20, 2025

April 20, 2025

Monthly Development Report Shows Increase in Affordable Housing Culver City officials have released the latest updates to their Residential and...

Multi-Concept Asian Restaurant Coming to Prime Sunset Strip Corner

April 20, 2025

April 20, 2025

Round 1 Delicious Inks Lease for Asian Dining Concept in WeHo West Hollywood will be the location for a high-end...

Hollywood Legend Raquel Welch’s Former Home Changes Hands in Beverly Glen

April 20, 2025

April 20, 2025

The Late Actress’s Longtime Residence Sold for $3.1 Million More than two years after Raquel Welch’s passing, the late actress’s...

Heads-Up, Westside: Downtown Santa Monica Traffic to Increase with Pali High Move

April 20, 2025

April 20, 2025

Santa Monica Braces for School Traffic Surge Following Wildfire Displacement Drivers throughout Westside communities, from Brentwood to Pacific Palisades, should...

Rents Stay Stable, but Economic Shifts Threaten the Balance

April 20, 2025

April 20, 2025

Tariffs and Tight Supply Could End Flat Rent Streak After more than a year of minimal fluctuation, asking rents, or...