Mattel has welcomed its fifth new director to the board since March this year, with the appointment of Dr Judy Olian, president of Quinnipiac University.
The toymaker’s chief executive and chairman, Ynon Kreiz has said that “Mattel and its board will benefit immensely from Judy’s valuable experience in human resource strategies and organisation design.”
The appointment is part of Mattel’s ongoing turnaround plans to bring the California-based toy firm back to the leading position within the global toy market.
Olian, also a former dean of UCLA Anderson School of management, is Mattel’s third female director on the ten member board, and the fifth new director to join since March this year.
Kreiz became the company’s fourth CEO in four years this April and immediately increased the size of the company’s board from seven to ten, adding Roger Lynch, CEO of Pandora Media and Adriana Cisneros, a media executive who heads up Cisneros Group.
The recent bankruptcy of Toys R Us put Mattel on the back foot when it reported a 14 per cent sales decline in the last quarter and a loss of $240.9 million compared to a $56.1 million loss a year ago.
Kreiz’s turnaround plans includes licensing out the company’s IP to sell more merchandise linked to its big brands, including Barbie and Hot Wheels, and to exit th manufacturing business.
Last week, Mattel launched a film division and hired the veteran producer Robbie Brenner to head up the venture.