Mattel CEO Margo Georgiadis to step down

April 24, 2018

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There are changes at the very top of Mattel as CEO Margo Georgiadis moves to Ancestry.com after a rocky period in charge. Toyworld Mag takes a look at the situation.

Margo is stepping down to take the top job at consumer genomics company Ancestry. A former Google executive who joined the toy company in February 2017, she has been unable to revive sales for Mattel, despite overhauling the company’s management team, suspending its dividend and developing plans to cut $650m in costs.

Her departure from Mattel is effective from 26th April, and Margo will begin her job at Ancestry on 10th May, having continued at Mattel in an advisory role to ensure a smooth transition.

Margo will be replaced by the former CEO and chairman of Maker Studios Ynon Kreiz, who is expected to be confirmed as the board’s chairman at its shareholder meeting on 17th May.

Tags
Mattel

SourceToyworld Mag

Mark Newbold

Exploring the galaxy since 1978, Mark wrote his first fan fiction in 1981 and been a presence online since his first webpage Fanta War in 1996. He's contributed to Star Wars Insider (since '06) and Starburst Magazine (since '16) as well as ILM.com, SkywalkerSound.com, StarWars.com, Star Wars Encyclopedia, Build The Millennium Falcon, Geeky Monkey, TV Film Memorabilia, Model and Collectors Mart, Star Trek magazine and StarTrek.com. He is a four-time Star Wars Celebration Stage host, the only podcaster to have appeared on every Celebration podcast stage since the stage began in 2015, the Daily Content Manager of Fantha Tracks and the co-host of Making Tracks, Canon Fodder and Start Your Engines on Fantha Tracks Radio.

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There are changes at the very top of Mattel as CEO Margo Georgiadis moves to Ancestry.com after a rocky period in charge. Toyworld Mag takes a look at the situation.

Margo is stepping down to take the top job at consumer genomics company Ancestry. A former Google executive who joined the toy company in February 2017, she has been unable to revive sales for Mattel, despite overhauling the company’s management team, suspending its dividend and developing plans to cut $650m in costs.

Her departure from Mattel is effective from 26th April, and Margo will begin her job at Ancestry on 10th May, having continued at Mattel in an advisory role to ensure a smooth transition.

Margo will be replaced by the former CEO and chairman of Maker Studios Ynon Kreiz, who is expected to be confirmed as the board’s chairman at its shareholder meeting on 17th May.