Leadership Summit 2026: Mattel's CEO on Driving Consumer Engagement and Cultural Impact

July 2, 2026

AI Summary

5 min read

From Toy Maker to IP Powerhouse: Mattel's CEO on Brand-Led Transformation

When Inon Kreiz took over as CEO of Mattel, the company's strategy document was a three-inch binder. He replaced it with a single page. That act of compression—distilling complexity into clarity—became the operating principle for a broader transformation: turning an 80-year-old toy manufacturer into an IP-driven entertainment company that now produces blockbuster films, live events, and digital experiences alongside its physical products.

The Strategy: One Page, One Purpose

Kreiz's first move was to redefine Mattel's purpose from "making items" to "managing franchises." The new strategy, captured on a single page, was communicated across the entire organization so that every employee understood how their work ladders up to the company's overall objectives. "It doesn't make it necessarily easy to execute," Kreiz says, "but it's at least very clear to understand."

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What you'll learn

1 (01:30) **From Toy Manufacturer to IP-Driven Franchise** - The CEO explains the strategic shift from a traditional toy manufacturer to an IP-driven entertainment company managing franchises.
2 (02:27) **Workforce Transformation and Cost Optimization** - Details on reducing the non-manufacturing workforce from 13,500 to 8,000 while strengthening capabilities in key areas.
3 (03:22) **Leading Through Tough Decisions** - The CEO explains how to communicate difficult workforce changes while keeping employees engaged.
4 (04:34) **Revolutionizing Culture for Innovation** - How Mattel amplifies its innovative core while managing a complex global operation.
5 (05:51) **Rethinking Talent: From Toy Experts to Brand Managers** - The biggest talent shift was ensuring business leaders are holistic brand managers, not just toy experts.
6 (07:14) **Upgrading Back-Office Systems for Execution** - The CEO discusses the ongoing journey of evolving legacy systems and processes for a company that has been around for 80 years.
7 (08:41) **AI Strategy: Internal Efficiency and Product Innovation** - Mattel's partnership with OpenAI and two-pronged approach to AI: how they work and what they make.

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Show Notes

How do you reinvent an 80-year-old company without losing what made it successful in the first place? In this special episode, as part of the recent HBR Leadership Summit 2026, Mattel CEO Ynon Kreiz explains how he transformed the iconic toy maker into an IP-driven entertainment company that creates movies, games, live experiences, and digital products alongside its toys. He shares how simplifying strategy, reshaping talent, and fostering a culture of innovation helped drive the company's turnaround, why AI is accelerating product development without replacing creativity, and what leaders can learn about managing change, protecting trusted brands, and building organizations that are ready for the future.