Mattel Appoints New COO - Analyst Blog

California-based company Mattel Inc (MAT), the world's largest manufacturer of toys, has appointed its president of International division Bryan Stockton as its new chief operating officer (COO), effective immediately. Stockton will report to Robert A. Eckert, Mattel's Chairman and chief executive officer (CEO).

Stockton joined the company in 2000 as executive vice president of business planning and development and became the head of Mattel's International division in 2003. Under his leadership the performance of the company's International division attained new heights and the division's contribution to the annual total revenue rose from 36% to 50%.

As new COO, Stockton will not only be responsible for all the aspects of Mattel brands, starting from design to sale of the product, but also for other functions including operations and corporate responsibility.

Mattel also announced that the president of Mattel Brands, Neil Friedman will be leaving the company in March 2011. Friedman has played a key role in developing and sustaining the company's steady growth; his achievements can be perceived in Mattel's strong brand portfolio ensuring its leading position also in future.

We believe  that as Friedman is leaving, the responsibility of Stockton will definitely increase, but considering his experience and leadership quality, Stockton is likely to bring in a fresh perspective and dynamism for Mattel's further improvement.

Mattel currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We are also maintaining our long-term Neutral recommendation on the stock.

Mattel's primary competitors in the toy industry include Hasbro Inc (HAS) and Jakks Pacific Inc(JAKK).

Founded in 1945, Mattel together with its subsidiaries engages in the design, manufacture, and marketing of various toy products worldwide. The company operates under the three primary business segments Mattel Girls & Boys Brands, Fisher-Price Brands and American Girl Brands.

 
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