Mattel's CFO Succession Doesn't Necessarily Mean a Sale is Coming
Dow Jones10-20
1050 ET - Investors shouldn't read too much into the fact that Mattel has appointed a new CFO, UBS analysts say in a research note. The change comes just weeks after the maker of Barbie dolls and Hot Wheels named a new CEO to replace Ynon Kreiz, who became Co-Chief Executive Officer of Skydance. The executive shuffling comes as WSJ reported that Mattel recently attracted takeover interest from brand-licensing giant Authentic Brands Group, according to people familiar with the matter. "Our sense from talking to industry participants is that Mattel is focused on execution as the board also tries to signal to the market that there is no incentive hurdles at management level to oppose a potential transaction," the analysts say.
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