Mattel CEO Exit Played 'Big Part' in Ariel's Call for Sale
Dow Jones
13 hours ago
1323 ET - Ariel Investments Co-CEO John Rogers says Ynon Kreiz's departure from Mattel played "a big part" in the asset-management firm's decision to call for the toymaker to explore strategic alternatives. "Ynon had done a great job restructuring the business," Rogers says in an interview with CNBC. "He had a plan in place." That won't necessarily be the case under Roger Lynch, who was tapped to succeed Kreiz as Mattel's next CEO last week. "We don't want to start over again," Rogers says. He adds that Ariel is becoming impatient, as Mattel's shares remain significantly undervalued with its current structure as a public company.
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