April 2, 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

(Video) Spending an Afternoon at Pacific Park on the Santa Monica Pier

April 1, 2025

April 1, 2025

Go To Pacpark.com For Tickets and More Information. Go To https://t.co/fDDgcY6b3e For Tickets and More Information.#amusementpark #rides #rollercoaster #summer #spring...

Matū Kai to Debut in Brentwood With Grass Fed Wagyu and Global Flair This Week

April 1, 2025

April 1, 2025

Farm-To-Fork Beef, Wood-Fired Flavors, and Sustainability Meet on San Vicente The team behind Beverly Hills’ acclaimed steakhouse Matū has expanded...

Mid-City Freeway Death Under Investigation After Caltrans Workers Find Blanket-Covered Body

April 1, 2025

April 1, 2025

Woman Discovered on 10 Freeway Shoulder Identified; CHP Launches Probe Caltrans workers discovered a woman’s dead body around 9:00 a.m....

Community Support Saves Beloved West Hollywood Café from Closure

March 31, 2025

March 31, 2025

Packed Tables and Emotional Messages Helped Keep the Doors Open Le Petit Four, the popular Sunset Boulevard café known for...

Egg Beaters Recalled Over Possible Chemical Contamination

March 31, 2025

March 31, 2025

Massive Liquid Egg Recall Includes California Shipments Cargill Kitchen Solutions is recalling approximately 212,268 pounds of liquid egg products after...

Los Angeles County’s Measure A Raises Sales Tax On April 1, And It’s No Joke

March 31, 2025

March 31, 2025

Santa Monica, West Hollywood, Culver City, and Malibu Will See Higher Increases Starting April 1, Los Angeles County residents will...

Robbery Boast on Instagram Helps Send Beverly Hills Heist Suspect to Prison

March 31, 2025

March 31, 2025

Flashy Post, Federal Time: Smash-and-Grab Mastermind Sentenced Ladell Tharpe, 39, received an 84-month sentence from U.S. District Judge George H....

Culver City Rolls Out Hi-Lo Siren to Warn Residents During Emergencies

March 31, 2025

March 31, 2025

Hi-Lo Warning System Activated: Culver City Adds New Evacuation Tool In an effort to strengthen emergency preparedness and public safety,...

Union Workers at UCLA to Strike April 1 Over Staffing Shortages, Labor Disputes

March 31, 2025

March 31, 2025

Healthcare and Research Staff at UC to Strike, Alleging Unfair Labor Practices More than 20,000 healthcare, research, and technical professionals...

School of Rock Students Shine in Winter Performance Despite Widespread Fires

March 31, 2025

March 31, 2025

Summer Camp Registration Opens Now By Susan Payne Wildfire devastation wreaked havoc in areas of Los Angeles this January with...

Full House Creator’s Cielo Drive Estate Returns With Massive Price Drop

March 30, 2025

March 30, 2025

Franklin’s Mansion, Once the Site of the Manson Tragedy, Back on Market Full House creator Jeff Franklin is returning to...

Santa Monica, Beverly Hills See Real Estate Shifts After L.A. Wildfires

March 30, 2025

March 30, 2025

Beverly Hills and Brentwood Listings Triple in Wake of January Fires Home sales and listings have shifted dramatically across Westside...

Deputies Open Fire on Suspect in West Hollywood, Triggering Street Closures

March 30, 2025

March 30, 2025

Suspect Shot by LASD in West Hollywood Domestic Violence Response Authorities are investigating a shooting that occurred Saturday evening in...

West Hollywood Resident Returns, Vandalizes Property, 30 Minutes After Eviction

March 30, 2025

March 30, 2025

“Neighbor From Hell” Tried to Re-Enter His Apartment and Damaged Property Valentino Lopez, a 41 year old, male Hispanic, was...

New Deadline, More Access: LA County Debris Program Expands Scope, Extends Signup

March 30, 2025

March 30, 2025

Officials Broaden Scope to Help More Residents, Encourage Early Submission Los Angeles County officials have announced that FEMA has agreed...