Mattel Swaps CFOs: Amgen's Peter Griffith In, Paul Ruh Out; Director Cisneros Resigns
MAT sits 35% above its 52-week low of $12.4.
Summary
Mattel named Amgen's Peter Griffith CFO and board director effective October 20, replacing Paul Ruh, who moves to an advisory role through year-end. Director Adriana Cisneros also resigned, as the board weighs reported takeover interest.
Key Events · Executive and Board Changes · MAT
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Griffith Named CFO and Director
Peter Griffith, most recently EVP and CFO of Amgen, becomes Mattel CFO and a non-independent board director effective October 20, 2026, succeeding Paul Ruh.
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Compensation Package Detailed
The package includes a $1.3M base salary, 100% target bonus (200% max), a $3.3M inducement PSU, $1.0M of prorated 2026 RSUs, $5.0M total 2027 equity, a $1.4M signing bonus and up to $25K legal fees.
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Ruh Exits With Severance
Ruh serves as Executive Advisor at $950K annually through December 31, 2026, then receives Severance Plan B Covered Termination benefits, including up to 24 months of COBRA support.
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Director Cisneros Resigns
Adriana Cisneros left the board on October 18, 2026; the filing states the resignation was not due to any disagreement with the company.
Analysis · MAT · Manufacturing
The CFO change lands at a delicate moment. Mattel is fielding takeover interest from Authentic Brands (reported above $20/share) and Zuru, while activist Ariel Investments presses the board to explore a sale. Griffith is a deal-tested finance chief: two decades at EY, including Global Vice Chair of Corporate Development, plus CFO of Amgen through its acquisition spree — a profile that fits a board potentially weighing a transaction. The cost is modest: roughly $10.7M of aggregate target compensation and equity across his first two years, plus a $1.4M signing bonus, against a $4.9B market cap. Meanwhile, the simultaneous resignation of director Adriana Cisneros, disclosed without explanation beyond 'no disagreement,' trims the board to a smaller group just as it faces those strategic decisions.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 29.4% of the 1386 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.50%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MAT was trading at $16.72 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $4.9B. The 52-week trading range was $12.40 to $22.48. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.