Ynon Kreiz is in discussions with Paramount CEO David Ellison about joining the company in a senior executive role as Paramount prepares to complete its $110 billion acquisition of Warner Bros. Discovery, according to people familiar with the talks.

The potential move emerged as Mattel announced Wednesday morning that Kreiz was stepping down following a succession process. Former Condé Nast CEO Roger Lynch is taking over the toy company’s top job, while Mattel said Kreiz was set to accept “a senior leadership position at another public company.”

What that position could look like at Paramount remains unsettled. The title and responsibilities have not been finalized, and multiple scenarios are under consideration, a person familiar with the discussions said. Kreiz is considered likely to have international businesses within his portfolio, although the structure of the combined Paramount-WBD leadership team is not yet clear.

Paramount did not immediately respond to a request for comment. A Mattel representative declined to comment.

A Paramount leadership team in transition

The discussions come during a crucial stretch for Paramount. The company is moving toward closing its Warner Bros. Discovery deal after a federal judge approves a settlement reached with state attorneys general in an antitrust lawsuit. The transaction is expected to be finalized next week.

Recent developments have included changes to the executive team, a major debt offering and plans for the combined company’s stock listing. Paramount and WBD employees are also absorbing Tuesday’s news that Cindy Holland is leaving ahead of the merger’s completion, clearing the way for HBO veteran Casey Bloys to lead the overall streaming programming operation.

Although Paramount already has much of its senior leadership in place, the president’s position has remained a notable vacancy since Jeff Shell’s abrupt departure last April. Shell, a former NBCUniversal CEO, had served as an important Wall Street communicator for Paramount’s entertainment strategy. He exited after revelations about his dealings with whistleblower and professional gambler RJ Cipriani.

Kreiz would arrive with eight years of experience leading Mattel, where he expanded the company’s Hollywood presence and helped bring about the Barbie phenomenon in 2023. The momentum from that breakout has since slowed. A sequel has not gained traction at Warner Bros. amid budget concerns, while the would-be franchise launch Masters of the Universe struggled at the summer box office. A Matchbox cars movie is scheduled to debut on Apple TV next month.

Mattel’s share price remained flat during Kreiz’s eight years in charge, a period shaped by Covid, global supply-chain problems and tariffs affecting the wider toy industry. His background nevertheless includes international operations, finance and investment — experience that could be significant once the merger brings HBO and CNN together with Paramount properties including MTV and Nickelodeon.

Before joining Mattel, Kreiz served as CEO of Endemol Group and Fox Kids Europe. He was also a general partner at Balderton Capital, previously known as Benchmark Capital Europe, where he specialized in early-stage media and technology investments.

International operations could be central

A key question is how Kreiz would fit alongside executives already overseeing Paramount and WBD’s extensive businesses outside the United States.

Former NBCUniversal executive Kevin MacLellan currently runs Paramount+ international networks and distribution operations. He joined after Skydance bought the studio and is a supporter of Ellison. At the Enders TMT Live Conference in June, MacLellan said he and Ellison had spent a “fascinating hour” discussing how technology could be applied to film and television.

MacLellan’s responsibilities include the UK’s Network 5, Australia’s Network Ten and international feeds of Comedy Central, MTV and Nickelodeon. Paramount has significantly reduced its international production operations in recent years.

WBD, by contrast, retains a substantial UK production presence. It owns Leavesden Studio, where the upcoming Harry Potter series is being filmed, and operates Warner Bros. International TV Production from London. That division sells and produces local editions of programs including ER, FBoy Island and Impractical Jokers.

Gerhard Zeiler has led WBD’s international operation as president since Discovery took over Warners in 2022. J.B. Perrette has worked with him on the global rollout of HBO Max. Zeiler has remained in senior positions through multiple regime changes as Warner Bros. has passed through three owners in eight years; Paramount would become its fourth.

WBD’s international portfolio includes local feeds of CNN, TLC, Cartoon Network, Discovery and the T-Nets, along with Polish network TVN and Eurosport.

Both Paramount+ and HBO Max also commission programming beyond the United States. Paramount+ recently premiered Season 2 of the Tom Hardy crime drama MobLand. HBO Max has pursued non-English-language originals including Spain’s When No One Sees Us and the Turkish titles Magarsus & the First Gokturk. HBO has also invested in British series such as Half Man, Industry and It’s a Sin, and pre-bought the Canadian hockey romance Heated Rivalry for its U.S. flagship.

What Happens Next?

The immediate milestones are the expected completion of Paramount’s WBD acquisition next week and a final decision on whether Kreiz will join Ellison’s leadership team. Until his title and remit are settled, the shape of his potential role — including how international responsibilities would be divided among current executives — remains uncertain.