Sterne Agee Highlights Mattel's New Management

Sterne Agee has published a research report on Mattel, Inc. MAT after the company appointed new management and sees Wal-Mart WMT remain its top retailer. In the report, Sterne Agee writes "Following the recent restructuring announcement and appointment of Bryan Stockton as COO and departure of Neil Friedman as President of Mattel Brands, the Company has made several new appointments. David Allmark, age 47, was appointed EVP of Fisher Price. Previously, he had served Mattel as Senior Vice President and General Manager of its U.K. Canadian and Eastern Europe markets. Geoff Massingberd, age 53, has been appointed EVP of International effective this month. Previously he served as Senior Vice President of Corporate Responsibility at Mattel. Further, Tim Kilpin is now brand manager of Mattel Brands and Chris Schaden is the lead on the domestic sales and marketing team. We believe the move to a global organization with the U.S. to be run as a subsidiary will enhance Mattel's ability to drive international sales and provide greater efficiencies." Sterne Agee maintains its Buy rating and $31 price target. Mattel closed Friday at $24.92.