The world's biggest toymaker, Mattel (NASDAQ:MAT) announced Friday that Chairman of the Board Robert Eckert will retire from his post, and give up his seat on the board, effective December 31, 2012. Chief Executive Officer Bryan Stockton will replace Eckert as Chairman, simultaneously retaining his position as CEO.
Stockton has been CEO since January 2012. Prior to that, he served as Chief Operating Officer of the company in 2011, after initially joining the company as an executive vice president in 2000.
Rounding out its new Chairman's resume, Mattel stated that:
Mr. Stockton served on the Board of Bob Evans Farms, (NASDAQ:BOBE) from 2006 to August 2012; held a variety of board leadership positions with the Toy Industry Association, from 2003 to 2012, including two years as chairman; was a board member on the Mattel Children's Hospital UCLA from 2001 to April 2010; and served as Chairman of World Trade Week Southern California for 2003. He currently serves as a member of the President's Advisory Council at Otis College of Art & Design, and was appointed to the UCLA Anderson Board of Visitors effective August 2012 and the 2015 Special Olympics World Summer Games Los Angeles Board of Directors effective June 2012.
Mattel shares closed at $35.31 Friday, up 0.5%.
Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Mattel. Motley Fool newsletter services recommend Mattel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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