The new and huger Paramount has a new co-CEO
Paramount said it will add Ynon Kreiz, former Mattel chairman and CEO, as co-CEO ahead of its planned $110 billion merger with Warner Bros. Discovery. Kreiz will handle day-to-day operations and integration of the combined businesses while current chairman and CEO David Ellison retains responsibility for long-term strategy and creative direction.
Why It Matters
The leadership change signals how the merged Paramount and Warner Bros. Discovery will divide executive responsibilities and manage a large-scale integration. The appointment comes as legal hurdles to the merger are being cleared and key streaming leadership shifts are occurring.
Key Facts
- New co-CEO: Ynon Kreiz named co-CEO of Paramount
- Current CEO: David Ellison remains chairman and CEO
- Merger value: $110 billion merger with Warner Bros. Discovery
- Kreiz background: Former chairman and CEO of Mattel; joined Mattel in 2018
- Notable project: Worked on Mattel's launch of the Barbie film in partnership with Warner Bros. Pictures
Paramount has appointed Ynon Kreiz as co-CEO as the company moves toward closing its proposed $110 billion merger with Warner Bros. Discovery. Kreiz, who until recently served as chairman and chief executive of Mattel, will join Paramount with a remit to run day-to-day operations and to lead the integration of the two studios' businesses. Under the new arrangement, David Ellison will continue as chairman and CEO but will shift his focus to long-term strategy, the company's creative vision, talent relationships, strategic partnerships, technology and capital allocation. Paramount said the combined Paramount and Warner Bros. Discovery organization will report jointly to Ellison and Kreiz. Kreiz joined Mattel in 2018 and oversaw projects including the launch of the Barbie film in partnership with Warner Bros. Pictures. Paramount said Kreiz's first day at the company will be October 5. The leadership change coincides with recent legal and executive developments tied to the merger: a judge approved Paramount's settlement in a lawsuit brought by several states that had been blocking the deal, and Paramount's streaming chief Cindy Holland announced she would step down. Industry reporting from Variety has indicated that HBO chief Casey Bloys is positioned to assume oversight of both Paramount Plus and HBO.
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