Ellison’s Media Titanic
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As if to foreshadow the bloodletting to come, Ellison announced the surprise hire of Mattel boss Ynon Kreiz as co-CEO to "operationalize and manage the businesses." Kreiz is perhaps best known for turning Mattel's IP into theatrical releases, riding on the success of "Barbie" as a global phenomenon, and pushing to bring its toy brands, including "Hot Wheels" and "Masters of the Universe" to the big screen. But he is also known for wielding the axe, having slashed roughly 20% of Mattel's workforce and aggressively reining in costs, moves seemingly intended to satisfy Wall Street, but still coming up short.
