Ynon Kreiz, who is stepping down as CEO of Mattel after eight years, will join David Ellison‘s Paramount — which is expected to close its mega-merger with Warner Bros. Discovery on Oct. 6 — as co-CEO of the new company, Paramount announced.
Kreiz will start at Paramount on Oct. 5, 2026, as co-CEO. He also will join the company’s board of directors.
News of Kreiz’s hiring came shortly after Paramount cleared the final step before it could close the $111 billion Warner Bros. Discovery merger when a judge approved the company’s settlement of the antitrust lawsuit brought by 12 state attorneys general. The merger is expected to close Oct. 6, according to Paramount regulatory filings.
One source close to the situation told Variety said that Ellison’s courting of Kreiz has been in the works for months and was “another ace up Ellison’s sleeve.”
Kreiz, a veteran media exec, is the former chairman and CEO of Maker Studios, a YouTube-oriented digital content network acquired by Disney in 2014. Kreiz exited Disney in 2016 and joined Mattel in 2018. From 2008-11, he served as chairman and CEO of Endemol Group, and before that was a general partner at venture-capital firm Balderton Capital (formerly Benchmark Capital Europe) from 2005-07. Earlier in his career, Kreiz co-founded and was chairman and CEO of Fox Kids Europe.
Mattel has credited Kreiz with boosting its market share across key toy categories, ranking No. 1 globally in dolls, vehicles, and infant, toddler and preschool segments. Mattel also noted that Kreiz oversaw Mattel Studios’ first theatrical release, “Barbie” starring Margot Robbie, which was the top global box office film of 2023 and has stood as Warner Bros. Pictures’ highest-grossing movie of all time.
