Ynon Kreiz, the Israeli-born executive who has led Mattel since 2018 and helped revive the popularity of Barbie, is set to take one of the most senior positions in Hollywood.
Kreiz will become co-CEO of Paramount and Warner Bros. Discovery once the two entertainment giants complete their $110 billion merger, joining Paramount chief David Ellison at the helm of the combined company.
Ynon Kreiz
(Photo: Teri Weber, Mattel)
The appointment was announced overnight by Ellison, minutes after a federal judge approved an agreement that cleared the final obstacle to completing the deal.
Born in Ramat Gan, Kreiz is married to former Israeli Olympic sailor Anat Fabrikant. The couple have four children, all born in London.
“They speak Hebrew among themselves,” Kreiz said in a previous interview with ynet’s Tzipi Shmilovitz. “We run a very Israeli household and come to Israel often. I still consume more news from Israel than from America.”
Asked how much his Israeli identity is present in the businesses he runs, Kreiz said: “It is absolutely present. People know and follow, and they ask questions and respond, and sometimes I need to explain what is happening. I’ll just say that I am very proud of my Israeli identity.”
Ellison will remain chairman and CEO, while Kreiz will join him as co-CEO and serve on the board.
According to Paramount, Kreiz will focus on day-to-day operations and the integration of the two companies, while the combined company’s business units will report to both executives.
Ellison said the arrangement represented “a division of labor based on our complementary strengths, with clear reporting lines.” Paramount said Ellison had been looking for a partner with “operational firepower.”
Kreiz has led Mattel since 2018, during which time the company has expanded its brands into films, television series and games.
The most prominent example was “Barbie,” the 2023 Warner Bros. film that became the world’s highest-grossing movie that year and the highest-grossing film in the studio’s history.
Before joining Mattel, Kreiz led Endemol, the production company behind “Big Brother,” and Maker Studios, which was sold to Disney for $500 million. He was also a co-founder of Fox Kids Europe and serves on the board of Warner Music Group.
The merged company will bring Paramount Pictures, Warner Bros., HBO, CBS, CNN, Nickelodeon and Cartoon Network under one roof.
Its streaming platforms are expected to reach more than 200 million subscribers. Paramount is seeking more than $6 billion in savings from the merger and is pursuing $44 billion in debt financing to fund the acquisition.
As part of an agreement with U.S. states that opposed the merger, the company will establish an independent editorial board to oversee CNN and CBS News.
The meeting with Haim Saban that changed everything
Kreiz grew up in Ramat Hen and Ramat Ef’al and dreamed of becoming a professional soccer player as a teenager. A leg injury pushed him into the business world earlier than he had planned.
“I still dream of being a soccer player,” he told ynet. “That is my great missed opportunity.”
While studying in Los Angeles in the 1990s, Kreiz also worked as a surfing instructor. A meeting with billionaire Haim Saban led to his appointment as CEO of Fox Kids Europe.
In 2008, he took over Dutch television production and content company Endemol, during the global success of “Big Brother.”
He left the company in 2011 and, after 15 years living in London, returned to Israel for two years before moving back to California.
Kreiz later became CEO of Maker Studios, a company that helped turn YouTube creators into celebrities and was later sold to Disney.
He joined Mattel’s board in 2017 and became CEO less than a year later, taking over as the company faced major difficulties.
Under Kreiz, Mattel worked to revive its biggest brands, including Barbie, expanding the range of dolls and eventually turning the franchise into a global film phenomenon.