Mattel Swaps CFOs Weeks After CEO Exit, Hiring Amgen's Griffith
MAT sits 36% above its 52-week low of $12.4.
Summary
Mattel hired former Amgen CFO Peter Griffith as finance chief and board member effective October 20, replacing Paul Ruh, who moves to an advisory role through year-end with severance. Griffith, 67, spent over six years running Amgen's finances and brings private-equity and investment-banking background; he gets a $1.3M base salary, $1.4M signing bonus and a bonus target of 100% of base. This is the second senior leadership change in under three weeks, following Roger Lynch's appointment as CEO and chairman after Ynon Kreiz left for Skydance. The reshuffle lands while Mattel fields reported takeover interest from Authentic Brands Group (above $20 a share) and Zuru, plus Ariel Investments' push to explore a sale — a new CFO with deal experience matters if the board engages on a transaction.
At the time of this announcement, MAT was trading at $16.82 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $4.8B. The 52-week trading range was $12.40 to $22.48. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.