Ynon Kreiz possesses a unique distinction among CEOs: he is portrayed by comedic actor Will Ferrell in the blockbuster film Barbie. In this cinematic sensation, Ferrell takes on the role of an unnamed, besuited, and somewhat bumbling executive at Mattel, in a movie that captivated audiences globally last year and showcased the talents of Margot Robbie as both star and producer.
Kreiz, the actual head of Mattel, played a pivotal role in the creation of the film, securing Robbie’s involvement shortly after his appointment as chief executive in 2018. This intersection of toys and film reflects a fascinating circular narrative within Hollywood; traditionally, movies have inspired toy lines, with franchises like Star Wars serving as prime examples. In contrast, Barbie emerged as a Mattel doll transformed into a cinematic feature, leading some to assume it was primarily a strategic move to boost doll sales.
However, Kreiz emphasizes that the movie’s true purpose transcended mere product promotion. He asserts, “The Barbie film was not about selling more toys,” maintaining that the objective was “to break convention and do something wholly original to create a cultural event.” Under this vision, his team at Mattel was tasked with producing “quality content that people want to watch.” Kreiz believes that successful execution of this mission will yield positive outcomes for the company.
Notably, the film achieved significant financial success, grossing approximately $1.45 billion at the global box office. Directly benefiting Mattel, the film contributed $90 million to the company’s operating profit and generated an additional $150 million in revenue.
The film’s positive critical reception, highlighted by multiple Oscar nominations and a win for best original song, coupled with the popular “Barbenheimer” phenomenon—where audiences cheekily paired the viewing of Barbie with Christopher Nolan’s more somber offering, Oppenheimer—indicates that Kreiz’s vision for a “cultural event” was indeed realized. Additionally, the film reinvigorated Hollywood following a challenging period wrought by the pandemic.
Prior to taking the helm at Mattel, Kreiz’s professional background largely revolved around television. Nevertheless, his career path could have diverged significantly.
Kreiz has harbored an interest in business since childhood, famously investing his bar mitzvah money into stocks. A defining moment occurred while pursuing his MBA at UCLA Anderson business school, when he crossed paths with Haim Saban, a fellow Israeli and future mentor. Saban is renowned for introducing the Power Rangers franchise in the 1990s, and Kreiz later joined him in co-founding Fox Kids Europe, which was part of Saban’s broader Fox Family Worldwide network, ultimately acquired by Walt Disney.
Kreiz’s extensive career also included managing Endemol, the studio responsible for the unprecedented success of the reality series Big Brother, followed by a 15-year stint in London. He eventually transitioned to Los Angeles, taking on the role of chief executive at Maker Studios, a short-form digital video company that was similarly acquired by Disney.
Making the transition from television to leading one of the world’s most prominent toy manufacturers felt like a natural progression to him. “All of the companies I’ve been involved with were creative organisations,” Kreiz explains. His mission has been to leverage creative content and talent to establish viable commercial frameworks.
Kreiz’s strategic overhaul at Mattel extends beyond film production; while the company continues to design and distribute toys, he has implemented operational efficiency by closing four factories and selling another. During his initial three years at Mattel, Kreiz successfully reduced the corporate non-manufacturing workforce by more than one-third, achieving a cost reduction of $1 billion.
Manufacturing for Mattel occurs across various Asian countries, including China. Under Kreiz’s leadership, the company has diligently diversified its supply chain, notably expanding operations in Mexico. He clarifies that this move was primarily motivated by the need for a responsive supply chain, especially evidenced by the rapid launch of the new “Weird Barbie” doll amid the film’s success, rather than a direct response to geopolitical issues: “We have a much more dynamic and flexible supply chain . . . and it became a competitive advantage.”
Shortly after our meeting, Channel 4’s Dispatches aired a report citing allegations of harassment and unsafe working conditions at a Mattel factory in southern China. In response to these serious allegations, Kreiz informed me that the company has launched an independent investigation, emphasizing their commitment to addressing these concerns earnestly.
Kreiz’s relationship with Disney significantly shapes his vision for Mattel. He often draws parallels between his aspirations for the toy company and Bob Iger’s discussions about the interconnectedness of brands and creativity and how they can drive business success.
Disney’s beloved characters and narratives span television, film, merchandise, and theme parks, creating a cohesive ecosystem that supports its brand identity. Kreiz envisions establishing a similarly profound “brand purpose” and cultural relevance for the expansive Mattel IP library, which features iconic names such as Thomas & Friends (known as Thomas the Tank Engine in the UK), Hot Wheels, and Bob the Builder.
One of Kreiz’s significant early initiatives was to reframe the company’s understanding of its customer base, perceiving them not solely as consumers but as dedicated fans.
He notes that while Disney’s legacy originated with hand-drawn animations, what Mattel offers is “tactile.” He adds, “Fans start to build relationships with our brands very early [so] the level of emotional connection and engagement that our audience has with our brand is that much higher.”
Undoubtedly, Kreiz’s transformational strategy has garnered attention within Hollywood circles, with whispers about him being a potential successor to Iger when he eventually retires in 2026. When asked if he aspires to step into such a role, Kreiz preferred not to comment.
When pressed about whether he consciously adopts aspects of the Disney model at Mattel, he readily admits, “I admire the company,” affirming that multiple elements of Disney’s operational philosophy are mirrored within Mattel’s strategy. He references other successes he aspires to emulate, including Hasbro, which successfully adapted its Transformers toy line into a series of blockbuster films, and Lego, known for crafting movies around simple bricks without relying on pre-existing characters. With the remarkable portfolio of cultural icons under its belt, Kreiz asserts that Mattel “owns some of the most iconic characters in modern culture.”
Looking ahead, Kreiz hints at the ambitious cinematic plans for Mattel, mentioning that 17 projects are currently in “active development.” Among these initiatives is a Masters of the Universe movie in collaboration with Amazon, a Hot Wheels adaptation helmed by Star Wars director JJ Abrams at Warner Bros, and a Major Matt Mason astronaut film featuring Tom Hanks.
“We have projects in development with big talent and the beauty is that they are across multiple genres and creative takes.” More importantly, Kreiz highlights the necessity of “trusting the creative leads.” I inquired whether he found it challenging to navigate the modern interpretation of the Barbie character by Greta Gerwig, particularly with the portrayal of Mattel as an impersonal, male-dominated corporation.
Kreiz maintains that creative professionals, including Gerwig, received the latitude to explore their vision. When they hired her, “she was a young, 35-year-old director who never made a commercial, big-budget movie. But she was a true creator, an auteur, that had a very unique voice, with a clear vision.”
Gerwig immersed herself in the Mattel brand before crafting her vision. Kreiz elaborates, “Contractually, the company had approval rights and ultimate control over the character. But it never came to that . . . it was never about control or approval. It was always about trust. Trusting the creative process.”
The growing cadre of filmmakers working on Mattel properties will undoubtedly take note of this approach. Kreiz reiterates, “The idea is to apply the same approach, the same creative process, where you attract creative talent that have a relationship with our brand. Empower them, trust them and create a playground where they can imagine and interpret and be creative.”
Imagining a space for creative innovation within Hollywood, especially emerging from a toy company, evokes a chuckle from Kreiz: “Nobody wants to feel they’re making a glorified commercial for a toy.”
A renowned director, and several other IPs awaiting their chance on the big screen.
**Interviewer**: Ynon, it’s impressive to see how the *Barbie* film has performed both critically and commercially. You mentioned that the movie was not solely about selling more toys. Can you expand on your vision for the film and its impact on Mattel?
**Ynon Kreiz**: Absolutely. My primary objective was to break convention and create something original—an event that extends beyond traditional marketing. We wanted to craft a culturally significant moment that resonates with audiences. The success of *Barbie* shows that when you focus on quality content and storytelling, it has the potential to enhance brand value across the board.
**Interviewer**: The financial figures speak volumes—over $90 million in operating profit and $150 million in revenue. How do you view this intersection of film and toy production as a long-term strategy for Mattel?
**Ynon Kreiz**: The success of *Barbie* is just the beginning. Building a robust cinematic universe around our iconic brands enables us to connect with our customers in ways we haven’t before. It’s about generating excitement not only for our products but for the overarching narratives that can evolve from them. We’re focusing on strong storytelling, not just as a means to sell toys, but as a way to create lasting emotional connections with our audience.
**Interviewer**: Speaking of emotional connections, you’ve mentioned before that you want fans to see themselves not just as consumers but as dedicated supporters of the brand. How is that philosophy reflected in your current projects?
**Ynon Kreiz**: We’ve shifted our approach to view our customers as fans first. This means understanding their passions and desires. When fans build a relationship with our brands early on—just as they have with Disney—they form a deeper emotional connection. That’s why we’re investing in quality content and expanding our IP development. We have 17 projects in the works, which is really an exciting opportunity for us to connect at different levels with our audience.
**Interviewer**: With the growing trend of cinematic adaptions, do you feel pressure to compete with other successful franchises like Lego or Transformers?
**Ynon Kreiz**: There’s always competition, but I prefer to look at it as inspiration. Both Lego and Hasbro have successfully created narratives around their brands that resonate globally. At Mattel, we have the potential to do the same. The *Barbie* phenomenon showed us that we have some of the most iconic characters in modern culture, and it’s about time we tell their stories in a way that connects with today’s audience.
**Interviewer**: Lastly, your relationship with Disney seems to play a significant role in your strategic vision. How do you see that shaping Mattel’s future?
**Ynon Kreiz**: I admire how Disney has built an ecosystem where characters span across various forms of media and experiences. I see a similar potential for Mattel. We’re looking to harmonize our various brands and make them culturally relevant again. The aim is to create a compelling brand purpose that resonates with fans and drives business forward, just like Disney has done for decades.