Mattel CEO fired amid declining profits


Mattel's CEO, Bryan Stockton, was fired on Monday after the company reported a 59 percent drop in profits. Stockton was Mattel's chairman and chief executive for the past three years.
The company's overall earnings have declined, but the drop in Barbie sales has been the most discussed among analysts. In 2009, more than 25 percent of dolls purchased in the U.S. were Barbies, but in 2013, Barbie accounted for only 19.6 percent of doll sales.
Christopher Sinclair, who has served on the Mattel board since 1996, has been named the brand's interim chair and CEO. Sinclair said in a statement that the company needs "new leadership to maximize its potential."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Meghan DeMaria is a staff writer at TheWeek.com. She has previously worked for USA Today and Marie Claire.
-
Gandhi arrests: Narendra Modi's 'vendetta' against India's opposition
The Explainer Another episode threatens to spark uproar in the Indian PM's long-running battle against the country's first family
By Harriet Marsden, The Week UK
-
How the woke right gained power in the US
Under the radar The term has grown in prominence since Donald Trump returned to the White House
By Chas Newkey-Burden, The Week UK
-
Codeword: April 24, 2025
The Week's daily codeword puzzle
By The Week Staff
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
By Peter Weber, The Week US
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
By Justin Klawans
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
By Peter Weber
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
By Justin Klawans
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
By Catherine Garcia
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
By Catherine Garcia
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
By Catherine Garcia, The Week US
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read
By Justin Klawans