Farr first took on the role of CFO in 2000 and has worked at the company since 1992.
After 17 years at global toy firm Mattel, Kevin Farr is set to step down from his position as chief financial officer.
Farr will continue to serve at the firm as CFO until his successor has been named and made a successful transition to the role.
Farr first took on the position of CFO in 2000 and has worked at the company since 1992, working as SVP and corporate controller and senior director of tax.
His departure follows chief executive Margo Georgiadis' recent appointment, who joined Mattel earlier this year to help boost the business after several declining sales quarters.