US toymaker Mattel names former Google Americas president as new chief executive
Mattel announced today it has named a new chief executive to help put a stopper in floundering sales.
Margaret Georgiadis, who previously worked as president of Americas at Google, will take to the helm of the US toymaker 8 February.
Georgiadis is set to replace Christopher Sinclair, who had only taken up the role as chief exec in 2015. He will continue to serve as executive chairman of the board.
The Barbie and Hot Wheels maker posted a loss of $73.2m (£59.2m) in April – more than the $58.2m loss a year earlier.
Under Sinclair, Mattel pushed for new body types and skin tones for its Barbie doll brand. In its latest results, reported sales were up 16 per cent compared with the previous year following the shift in marketing strategy.
Read more: No party for Barbie as Mattel losses widen
Georgiadis has experience scaling brands globally and engaging consumers and retailers in the digital world, Sinclair said.
He added: "She has successfully led efforts to deliver above market growth and profitability by creating transformational partnerships across content, media and technology providers and through innovation in product development and customer engagement."
Georgiadis said, "I look forward to working with the incredibly talented people at Mattel as we build on recent momentum, leverage the unique creativity and passion that exists within Mattel to inspire future generations of children, and deliver on our promises to shareholders."
She has previously worked as chief operating officer of Groupon and chief marketing officer of Discover.