Labor Group Seeks Mattel Investors Meeting

The American Federation of State, County and Municipal Employees said it had demanded the board of Mattel Inc. meet with large shareholders to discuss the toy maker’s future after the sudden resignation of former Chief Executive Jill Barad earlier this month. In a letter to Mattel, the labor group’s president, Gerald McEntee, called for the company to consult with investors on the selection of a new CEO, board nominations and takeover defenses. El Segundo-based Mattel, which makes the popular Barbie dolls and Hot Wheels toys, declined to comment on the letter. Barad, credited with building up the Barbie division and one of the few women atop a Standard & Poor’s 500 company, resigned Feb. 3 after a turbulent three years at the helm. McEntee said Mattel had lost $8 billion in market value during Barad’s tenure. Mattel’s stock rose 69 cents Monday to close at $11.38 on the New York Stock Exchange.