Roger Lynch is stepping down as chief executive of Condé Nast after seven and a half years to become CEO of Mattel. He had joined the publishing group in 2019, after having led the streaming service Pandora and founded Sling TV.
At Mattel, Lynch succeeds Ynon Kreiz, who is leaving the toy maker's top job. According to Retail Dive, Mattel chose him following a succession planning process conducted among members of its board, of which Lynch has been a part since 2018. Under Kreiz's leadership, the company had transformed from a simple toy maker into a structure focused on monetising its intellectual property, illustrated this summer by the launch of Mattel Game Studios.
A substantial pay package
Lynch will receive at Mattel an annual base salary of $2.3 million, according to filings with the SEC cited by Retail Dive. He will be eligible for an incentive plan of up to 200% of that base salary, capped at 400%. The contract also includes a cash signing bonus of $10.6 million, a restricted stock award of $6 million and a relocation allowance of $985,000. Pending his arrival, Jonathan Anschell, Mattel's chief legal officer and secretary, will serve as interim principal executive officer.
A record marked by labour tensions
Lynch said he had joined Condé Nast with the ambition of leaving the company «\u00a0plus forte que je ne l'ai trouvée\u00a0». He also said that as of the close of the third quarter, the company was on track for another year of revenue and profit growth. According to FashionUnited UK, Condé Nast's commercial revenue has grown by 170% since 2020, a period marked by the launch of the Dubaï office, the group's first new office in 16 years.
His tenure was nonetheless marked by labour tensions. More than 400 unionised employees had staged a 24-hour walkout in January 2024, following proposed layoffs and contract negotiations; the union had then threatened to disrupt the Met Gala. An initial agreement was ultimately reached just hours before the event, establishing a minimum base salary of $61,500. In May 2026, Condé Nast had also agreed to pay more than $400,000 to settle a dispute involving three journalists dismissed after confronting the group's head of human resources over layoffs.
Lynch will remain a member of Condé Nast's board of directors. Mike Perlis, lead independent director, will serve as interim CEO and will work alongside the existing leadership team during the transition, while the board conducts a search for a permanent successor. At the same time, Condé Nast has promoted Vogue editor-in-chief Anna Wintour to the position of global content director.
