Mattel (MAT) Appoints Julius Genachowski and Dawn Ostroff to its Board

Mattel, Inc. (NASDAQ: MAT) announced today that Julius Genachowski and Dawn Ostroff have joined the Company’s Board of Directors, effective February 5, 2024. The new Directors bring extensive combined experience in media, entertainment, and technology, and expertise in finance, M&A, and government regulation, which will help further Mattel’s strategy to grow its IP-driven toy business and expand its entertainment offering.

Mr. Genachowski brings to Mattel extensive experience in technology, media and telecom, including internet and digital communications policy, cybersecurity, and privacy. He brings a global perspective from his various roles, and experience in finance, M&A, risk oversight and corporate governance. Mr. Genachowski is a Senior Advisor at Carlyle, a leading global investment firm, following a decade as Partner and Managing Director. Prior to that, he served as Chairman of the U.S. Federal Communications Commission (FCC), where he led development of the first U.S. National Broadband Plan and the modernization of rules for digital media and communications. Previously, he was a senior executive and member of the Office of the Chairman at IAC. Mr. Genachowski is Chairman of the Board of Directors of Sonos and serves on the Board of Mastercard. He previously served on the Board of Sprint.

Ms. Ostroff brings to Mattel more than 30 years of experience in media and entertainment, technology, and advertising with a proven track record of growing and transforming companies to meet the expectations of new generations of consumers. She most recently served as Chief Content & Advertising Business Officer at Spotify. Ms. Ostroff founded Condé Nast Entertainment and was the President of Entertainment for the CW broadcast network and President of United Paramount Network, a subsidiary of CBS. Ms. Ostroff currently serves on the Board of Directors of Paramount Global. Previously, she served on the Board of Activision Blizzard and the Westfield Corporation. Ms. Ostroff also serves on the New York University Faculty of Arts and Science Board of Overseers.

Ynon Kreiz, Chairman and CEO of Mattel, said: “Julius and Dawn are globally respected leaders in media, entertainment, and technology and we are thrilled to welcome them to Mattel’s Board of Directors. Their expertise complements the skills and experience of our current Directors as we continue to execute our strategy to grow Mattel's IP-driven toy business and expand our entertainment offering.”

Mr. Genachowski commented: “Mattel is one of the world’s most iconic companies, built on a foundation of cherished brands, grounded in values, and well positioned for future growth. I am proud to join the Board of Directors, and look forward to working closely with Ynon and the board to serve Mattel and its shareholders at this exciting time for the company.”

Ms. Ostroff added: “Mattel has a unique portfolio of brands and franchises with built in audiences and incredible potential for development and expansion through opportunities in media and entertainment. I am looking forward to working alongside Ynon and the Board of Directors at Mattel as the company maximizes the potential of its world-class IP and enters its next phase of growth.”

Directors Todd Bradley and Ann Lewnes stepped down from the Mattel Board of Directors, effective February 1, 2024.

Mr. Kreiz continued: “We thank Todd and Ann for their many years of dedicated service to our Board of Directors through our transformation to become an IP-driven, high-performing toy company. We are grateful for their support and guidance and playing an active role during their tenure.”

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