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Mattel Announces Departure of Steve Totzke, President and Chief Commercial Officer, and Promotion of Sanjay Luthra to Lead Global Commercial Organization

  • Mattel announced Steve Totzke will step down as President and Chief Commercial Officer effective May 1, 2026.
  • Sanjay Luthra has been appointed to succeed Totzke as Chief Commercial Officer, reporting to CEO Ynon Kreiz.
  • Luthra will oversee Mattel's global sales and commercial operations, having previously led EMEA and Global Direct-to-Consumer divisions.
  • Totzke will remain as an Executive Advisor and President, Strategic Transition through December 31, 2026.
  • Totzke, a 30-year Mattel veteran, previously served as President since 2022 and was inducted into the Canadian Toy Association Hall of Fame in 2025.
  • Luthra joined Mattel India in 2003, served as Chairman of the Board of Toy Industries of Europe for seven years, and will be based in El Segundo, California.
  • The press release includes standard forward-looking statements regarding risks such as economic conditions, supply chain disruptions, inflation, currency fluctuations, and regulatory changes.