- After two years on the job
- Laud and thanks for Sinclair
- Sinclair will remain as Executive Chairman of the Board at Mattel
(management-change.com) — El Segundo, California, January 17, 2017 — This news came the day after Martin Luther King, Jr. Day. Chris Sinclair, chief executive of Mattel, hands over the reins. It is a change at short notice. As announced by Mattel, Inc. in a news release and in a regulatory filing published on Tuesday, January 17, 2017, Christopher A. (Chris) Sinclair leaves the post as Chief Executive Officer at the toy manufacturing company after two years on the job, effective February 08, 2017.
Sinclair’s duties are taken over by Margo Georgiadis, most recently President, Americas at Google Inc.
The fact that Sinclair’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Mattel did not explicitly explain the reason for Sinclair’s imminent move.
Mattel said: “[E]ffective as of February 8, 2017, Christopher A. Sinclair will resign from his role as the Company’s CEO.”
Sinclair will remain as Executive Chairman of the Board at Mattel
Sinclair, who has led the company as Chairman and CEO since early 2015, joined Mattel’s Board in 1996 and has served previously as Independent Lead Director and Chair of the executive and audit committees. Going forward, he will serve as Executive Chairman of the Board.
Share price rise since September 2015
The change follows a rise in the share price of Mattel, Inc. since September 2015.
On the job as CEO since 2015
Christopher A. Sinclair has been the Chief Executive Officer of Mattel, Inc. since April 2, 2015 and served as its Interim Chief Executive Officer since January 26, 2015 until April 2, 2015.
Sinclair has served on Mattel’s Board of Directors since 1996 and served as Independent Lead Director and Chair of the Audit Committee and Executive Committee from 2011 to January 2015.
Sinclair has served as Executive Chairman of Scandent Holdings, an information technology investment company, from 2002 to 2008, and also served as Executive Chairman of Cambridge Solutions Corporation Ltd., a leader in providing information technology and business process outsourcing services, from 2005 to 2009.
Prior to that, he served as Managing Director of Manticore Partners, LLC, a venture capital advisory firm, from 2000 to 2005, as an Operating Partner of Pegasus Capital Advisors, LP, a private equity firm, from 2000 to 2002, and as Chairman of the Board and Chief Executive Officer of Caribiner International, Inc., from 1999 to 2000.
Earlier, he served as President and Chief Executive Officer of Quality Food, Inc., Chairman and Chief Executive Officer of Pepsi-Cola Company and President and Chief Executive Officer of PepsiCo Foods & Beverages International and Pepsi-Cola International.
Sinclair was born and raised in Asia. He holds a bachelor’s degree in Business Administration from the University of Kansas and an MBA from the Tuck School of Business at Dartmouth College.
Read the full story in the management-change.com report 04.2017 ($).