Mattel Gets Seasoned Player for Global Unit
Moving to solidify its senior management team as global demand for toys is poised to soar, Mattel Inc. said Wednesday that it has lured back a highly regarded veteran to head its worldwide operations.
Bruce L. Stein, who began his toy industry career at the El Segundo company before holding key jobs at rival Hasbro and elsewhere, will be one of five executives reporting to Jill E. Barad, president and chief operating officer.
Stein, 41, who most recently was president of Sony Pictures Entertainment’s consumer products marketing group, will become president of Mattel Worldwide, with responsibility for product development, marketing and distribution in both U.S. and international markets.
Highly regarded in the industry, with particular strength in licensed products and toys for boys, Stein will be filling key roles that were parceled out among several executives in March after the departure of James Eskridge as the head of worldwide operations.
“There is a move afoot to make sure brands are, to the maximum extent possible, marketed to worldwide markets,” said John G. Taylor, a toy industry analyst at Arcadia Investment Corp. in Portland, Ore.
One reason Wall Street is so interested in toy companies, Taylor noted, is the potential for exporting American culture. Firms such as Mattel and Hasbro have ties to Hollywood and strong core products, such as Mattel’s Barbie.
“We now have a top management team in place that can take this company to the year 2000 and beyond and help maintain our excellent record of continuous profitable growth,” Barad said.
