8-K
MATTEL INC /DE/ false 0000063276 0000063276 2022-04-05 2022-04-05

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

Current Report

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): April 5, 2022

 

 

MATTEL, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-05647   95-1567322

(State or other jurisdiction

of incorporation)

 

(Commission

File No.)

 

(I.R.S. Employer

Identification No.)

333 Continental Boulevard

El Segundo, California 90245-5012

(Address of principal executive offices)

Registrant’s telephone number, including area code

(310) 252-2000

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common Stock, $1.00 per share   MAT   The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


Section 5 – Corporate Governance and Management

 

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 5, 2022, Mattel, Inc. (the “Company”) announced the appointment of Steve Totzke as President and Chief Commercial Officer of the Company, effective April 5, 2022.

Mr. Totzke, 52, has served as the Company’s Executive Vice President and Chief Commercial Officer since July 2018. From February 2016 to July 2018, he served as Executive Vice President and Chief Commercial Officer – North America. From May 2014 to February 2016, he served as Senior Vice President, Sales and Shopper Marketing, and from April 2012 to May 2014, he served as Senior Vice President, U.S. Sales.

Section 7 – Regulation FD

 

Item 7.01.

Regulation FD Disclosure.

On April 5, 2022, the Company issued a press release announcing the appointment of Steve Totzke as President and Chief Commercial Officer of the Company, a copy of which is furnished as Exhibit 99.1 hereto.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Section 9—Financial Statements and Exhibits

 

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits:

 

Exhibit No.   

Exhibit Description

99.1**    Press release, dated April 5, 2022
104    Cover Page Interactive Data File (embedded within the Inline XBRL Document)

 

**

Furnished herewith


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

MATTEL, INC.

Registrant

By:  

/s/ Jonathan Anschell

  Name: Jonathan Anschell
 

Title:   Executive Vice President,

Chief Legal Officer, and Secretary

Dated: April 5, 2022

EX-99.1

Exhibit 99.1

 

LOGO

Mattel Promotes Steve Totzke to President and

Chief Commercial Officer

EL SEGUNDO, Calif., April 5, 2022 – Mattel, Inc. (NASDAQ: MAT) has promoted Steve Totzke to President and Chief Commercial Officer of the Company, it was announced today by Mattel Chairman and Chief Executive Officer Ynon Kreiz, to whom Totzke reports.

“Steve has played an integral role in creating Mattel’s current momentum, strong results and best-in-class commercial capabilities,” said Kreiz. “With Steve’s oversight, the global commercial team has expanded our market leadership, strengthened relationships with Mattel’s retail partners and created demand in an increasingly complex environment. I look forward to Steve’s continued leadership as we further accelerate our performance in line with our growth strategy.”

Since being named Executive Vice President and Chief Commercial Officer in 2018, Totzke has been responsible for driving Mattel’s growth in markets worldwide and overseeing Mattel’s unified global commercial organization – a key pillar in the Company’s strategy to transform Mattel into an IP-driven, high-performing toy company. With the effectiveness of its transformation strategy and its turnaround now complete, the Company has evolved its strategy to grow Mattel’s IP-driven toy business and expand its entertainment offering.

Under Totzke’s leadership, Mattel has developed exceptional e-commerce capabilities, evolved a “digital first” demand creation approach and expanded its reach to more than 488,000 brick and mortar stores in over 150 countries based on an all-channel growth strategy. In 2021, Mattel grew net sales 19% versus prior year and, per The NPD Group, the company outpaced the industry in every measured market in 2021 and increased share for the second consecutive year1.

“I am extremely proud to be part of this iconic company’s transformation over the past several years and I truly believe Mattel’s best days are ahead,” added Totzke. “Most importantly, I take pride each day in supporting Mattel’s purpose to empower the next generation to explore the wonder of childhood and reach their full potential. I look forward to leading our exceptional Mattel commercial organization into the future.”

Totzke’ s contributions to Mattel span nearly 25 years across several senior general management positions including sales, marketing, and business operations. Prior to being named worldwide Chief Commercial Officer, Totzke served as Executive Vice President, Commercial for the Company’s North America division. Totzke has also served in several international leadership positions during his tenure with Mattel.


A dedicated champion of the toy industry, Totzke serves on the Board of Directors of the Toy Association, the Mattel Children’s Foundation, and the Advisory Board for the Women in Toys Association.

Totzke received an MBA from Pepperdine University Graziadio School of Business and Management and was recently named a Notable Alumni by the university.

 

1.

Source: The NPD Group/Retail Tracking Service, G12/JAN 2020 – DEC 2021/Total Toys/Projected USD

About Mattel

Mattel is a leading global toy company and owner of one of the strongest catalogs of children’s and family entertainment franchises in the world. We create innovative products and experiences that inspire, entertain, and develop children through play. We engage consumers through our portfolio of iconic brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends®, UNO®, Masters of the Universe®, Monster High® and MEGA®, as well as other popular intellectual properties that we own or license in partnership with global entertainment companies. Our offerings include film and television content, gaming and digital experiences, music, and live events. We operate in 35 locations and our products are available in more than 150 countries in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering children to explore the wonder of childhood and reach their full potential. Visit us online at mattel.com.

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