April 2, 2025 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

CEO of Mattel Announces Plans to Streamline Company Operations

Four months after taking over the El Segundo-based toymaker, the CEO of Mattel announced plans Wednesday to streamline the company’s operations to get toys developed and on the market faster, while doing more to capitalize on digital products.

“Our vision is to inspire the wonder of childhood as the global leader in learning and development through play,” . As we shift our business aggressively in a new strategic direction and transform how we operate, I believe we have the assets to achieve this vision and shape the future of the toy industry, said Margo Georgiadis, CEO of Mattel. “The strength of the underlying Mattel franchise supported by important trends such as a growing global toy market and an increasingly digital, mobile-first world provides an opportunity for Mattel to create significant long-term value for our investors.”

Georgiadis outlined a strategy for the company, building on its core products — American Girl, Barbie, Fisher-Price, Hot Wheels and Thomas & Friends — while reshaping the company’s operation and reallocating resources, with a primary goal of improving “speed to market.” That streamlining process is expected to reduce the time it takes to develop new products from the current 18 months to between six and nine months.

It also hopes to leverage the core products into “connected 360-degree play systems and experiences,” with both physical products and digital offerings.

According to the company, Mattel also plans to invest in emerging markets, such as localizing its products in markets such as China.

“Mattel predicts that its China business can be three to four times bigger by 2020 if well-executed,” according to the company. “In addition, the company has plans to take a similar approach to expand more rapidly in other priority emerging markets, including India and Indonesia.”

Mattel plans to dividend payouts to free up $150 million to $200 million to bankroll the re-engineering of Mattel.

Georgiadis took over as Mattel CEO in February, following stints as chief operations officer at Groupon and then as president, Americas, at Google Inc.

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...