Leadership Summit 2026: Mattel’s CEO on Driving Consumer Engagement and Cultural Impact

Key takeaways

Clear, concise strategy and purpose are essential for guiding transformational change within a legacy company.
Building a culture of innovation and agility enables faster adaptation to market trends and technological advancements like AI.
Leveraging big brands across diverse media and entertainment channels adds significant value and competitive advantage.
Authenticity and cultural relevance are crucial in maintaining consumer trust and emotional engagement with brands.
Responsible and ethical use of AI, along with strong governance, helps protect consumer trust and brand integrity.

Summary

Transforming a Heritage Brand into an IP-Driven Entertainment Powerhouse

Ynon Kreiz, CEO of Mattel, discusses the company's evolution from a traditional toy manufacturer to an IP-centric entertainment enterprise. This includes expanding beyond physical products into movies, games, and live experiences, notably highlighted by the success of the Barbie movie. He emphasizes that this transformation is rooted in a strategic focus on managing brands holistically across multiple verticals to maximize value. Kreiz also touches on restructuring efforts, reducing workforce numbers to streamline operations and reinforce capabilities, and aligning organizational culture with innovation and creative thinking.

Leadership and Organizational Change During Transformation

Kreiz highlights the importance of clear communication and concise strategic planning when leading through change. He redefined Mattel’s strategy from a complex, multi-page document to a single-page vision that guides all employees. Organizational culture was also reshaped to foster innovation, agility, and out-of-the-box thinking, especially around new technologies like AI. Kreiz mentions the ongoing upgrade of legacy systems and processes to support the company’s new purpose—creating innovative products and experiences. The company's leadership emphasizes the importance of aligning talent with brand management and holistic consumer engagement.

Leveraging Technology and AI for Growth and Innovation

Mattel's partnership with OpenAI signifies a focus on integrating AI into both internal operations and product experiences. Kreiz outlines how AI accelerates design processes, shortens development cycles, enhances operational efficiency, and helps stay ahead of cultural trends. Mattel maintains strict guidelines for AI use to protect intellectual property and ensure responsible, safe application, maintaining consumer trust. Internally, employees are encouraged to adopt AI tools for everyday tasks, creating a frontier of innovation that supports faster product-to-market timelines.

Building and Maintaining Cultural Relevance and Trust

Kreiz stresses the importance of authenticity in brand storytelling, emphasizing that trust is built on a clear purpose and genuine engagement with fans. Mattel's approach includes infusing cultural relevance into its legacy brands, thus ensuring they resonate with today's audiences. The company strives to bridge heritage with contemporary relevance, exemplified by the successful cultural positioning of the Barbie brand through its movie and other media. Kreiz also discusses governance, noting how purpose is embedded in organizational structures and decision-making processes, ensuring that brand values are authentic rather than superficial marketing.

Future Outlook and Competitive Advantage Through Brand Power and Innovation

Kreiz articulates a confident belief in the power of big brands in an overflowing media landscape. Through bold storytelling, partnerships with top filmmakers, and leveraging digitally native platforms like Fortnite and Roblox, Mattel aims to deepen engagement with its fanbase. He emphasizes that their strong portfolio of franchises provides a competitive edge, allowing Mattel to create meaningful, multi-channel experiences that extend beyond toys into broader entertainment and lifestyle experiences. The company remains committed to innovation, cultural relevance, and responsible use of new technologies to sustain growth.

Show notes

How do you reinvent an 80-year-old company without losing what made it successful in the first place? In this special episode, as part of the recent HBR Leadership Summit 2026, Mattel CEO Ynon Kreiz explains how he transformed the iconic toy maker into an IP-driven entertainment company that creates movies, games, live experiences, and digital products alongside its toys. He shares how simplifying strategy, reshaping talent, and fostering a culture of innovation helped drive the company's turnaround, why AI is accelerating product development without replacing creativity, and what leaders can learn about managing change, protecting trusted brands, and building organizations that are ready for the future.