Jakks Pacific has appointed the former Mattel executive John Kimble as its new chief financial officer.
Kimble will replace Brent Novak who was responsible for bringing Jakks Pacific through a recapitalisation process earlier this year. Kimble previously led the corporate development for Mattel.
Jakks Pacific is currently valued at $29 million and has recently traversed a tough few months of takeover bids to report a boost in quarterly sales thanks to the launch of its latest product line for Disney’s Frozen franchise.
“With Jakks’ recent recapitalisation in the rear window, I believe that my skill sets, which include experience in finance, licensing, gaming, and international sales, will allow me to assist Jakks in the development and implementation of its business strategies aimed at increasing shareholder value,” said Kimble.
Jakks Pacific’s chief executive, Stephen Berman, added: “We believe Kimble’s financial management skills coupled with his entrepreneurial experience will serve us well as we continue to implement our strategy of growth both domestically and internationally.”
Berman himself has had his employment with Jakks Pacific extended for another year, through to December 31, 2021.