Margaret “Margo” Georgiadis, most recently President, Americas at Google, will become the new CEO of Mattel effective February 8th. She will also join the Board of Directors.
Vacating the CEO position is Christopher Sinclair, who joined Mattel’s board in 1996 and took over the CEO position from Bryan Stockton in 2015. Sinclair is credited with helping turnaround the company, which in recent years lost its #1 position in the industry to Lego and the Disney princess license to Hasbro. He will stay on as Executive Chairman of the Board.
Stockton received good news recently when a Deleware court put an end to a Mattel shareholder suit that sought to force the company to seek the return of $10 million in severance that was paid when the former executive was let go.
In addition to Google, Georgiadis held past positions with Groupon, Discover Financial Services, and McKinsey & Company. Her hiring comes as Mattel puts more effort in to technology-based products, including a 3D printer and a personal assistant appliance.