One year after retiring as CEO of Mattel, Robert Eckert is stepping away from the Chairman role he continued to hold, handing it to current CEO Bryan Stockton (pictured).
Eckert will walk away from his Chairman of the Board title effective December 31, 2012 while Stockton will become the world’s largest toyco’s new Chairman effective January 1, 2013. He will continue to hold the company’s CEO title which he has held since January 1, 2012.
Since joining Mattel as its chairman and CEO in May 2000 after serving as Kraft Foods president and CEO, Eckert helped lead the company’s long-term performance growth, build operating margins and drive significant cash flow. Under his watch, the company generated US$8.2 billion in cash in 2010 and continued to see steady profit growth throughout 2011, largely attributable to franchises like Cars 2, Barbie and Monster High.
Stockton, who joined the toyco in November 2000 as EVP of business planning and development, eventually gained responsibility for International business in 2003, helping boost Mattel’s business outside the US. In 2007, he was upped to president of International and under his management, International increased its total contribution to Mattel’s annual sales from 36% to levels of almost 50% of the company’s sales by late 2011. That year he was promoted to COO where he was tasked with the day-to-day operations of Mattel Brands, Fisher-Price, American Girl, and the North American and International divisions.
When named CEO in January, Stockton said he would extend the company’s vision of going from toy to play and from product management to franchise management.
Mattel’s 2012 Q3 results experienced a 4% increase of worldwide net sales, a 6% rise in North American gross sales, and a 2% increase in international gross sales.