Mattel Names New President and Chief Commercial Officer; Hasbro Adds Two New Directors
As well, Mattel has just announced the promotion of Steve Totzke to President and Chief Commercial Officer, putting him second in charge to CEO and Chairman of the Board Ynon Kreiz.
“Steve has played an integral role in creating Mattel’s current momentum, strong results and best-in-class commercial capabilities,” said Kreiz. “With Steve’s oversight, the global commercial team has expanded our market leadership, strengthened relationships with Mattel’s retail partners and created demand in an increasingly complex environment. I look forward to Steve’s continued leadership as we further accelerate our performance in line with our growth strategy.”
Since being named Executive Vice President and Chief Commercial Officer in 2018, Totzke has been responsible for driving Mattel’s growth in markets worldwide and overseeing Mattel’s unified global commercial organization, seen as a key pillar in the toyco’s strategy to transform Mattel into an IP-driven, high-performing toy company. That has meant Mattel is much more reliant both on licensing its IP to other companies, in addition to its more traditional approach of licensing IP from TV shows and films.
Kreiz says Mattel’s transformation strategy and its turnaround is now complete, and the company has evolved its strategy to grow Mattel’s IP-driven toy business and expand its entertainment offering.
Where Totzke has been key to growth is in developing Mattel’s exceptional e-commerce capabilities. Mattel has simultaneously evolved a “digital first” demand creation approach and expanded its reach to more than 488,000 brick and mortar stores in over 150 countries, based on an all-channel growth strategy.
Due to those changes, and to increased demand for toys and games during the pandemic, Mattel has performed very strongly since 2019. In 2021, Mattel grew net sales 19% versus an already strong prior year, and according to the NPD Group, the company outpaced the industry in every measured market in 2021, and increased share for the second consecutive year.
“I am extremely proud to be part of this iconic company’s transformation over the past several years and I truly believe Mattel’s best days are ahead,” added Totzke. “Most importantly, I take pride each day in supporting Mattel’s purpose to empower the next generation to explore the wonder of childhood and reach their full potential. I look forward to leading our exceptional Mattel commercial organization into the future.”
Totzke is a veteran at Mattel, having climbed the corporate ladder for nearly 25 years. He has held several senior general management positions including sales, marketing, and business operations. Prior to being named worldwide Chief Commercial Officer, Totzke served as Executive Vice President, Commercial for the Company’s North America division. Totzke has also served in several international leadership positions during his tenure with Mattel.
A dedicated champion of the toy industry, Totzke serves on the Board of Directors of the Toy Association, the Mattel Children’s Foundation, and the Advisory Board for the Women in Toys Association.
High Ranking Tech Gurus Join Hasbro Board of Directors
While Mattel made a key move in its top management, competing American play and entertainment rival Hasbro announced two high profile additions to it board.
Hasbro announced that Elizabeth Hamren, Chief Operating Officer of Discord Inc., and Blake Jorgensen, Executive Vice President of Special Projects, and former Chief Financial Officer and Chief Operating Officer, at Electronic Arts Inc., have been appointed to Hasbro’s Board of Directors.
“As part of our ongoing commitment to board refreshment and shareholder engagement, we are thrilled to add Liz and Blake to our highly qualified, experienced and diverse Board of Directors,” said Rich Stoddart, Chair of Hasbro’s Board of Directors. “As proven, experienced leaders with significant industry expertise and a long history of delivering profitable growth, Liz and Blake add tremendous value and critical thinking to our Board as we enter the next phase of our growth.
“Their significant management experience and qualifications in areas important to Hasbro’s strategy including digital gaming, technology, brand development and capital allocation, coupled with their superb operational, strategic and financial acumen, will enable them to make immediate, valuable contributions as we continue to unlock the value of our award-winning brands and create long-term value for our shareholders.”
Elizabeth Hamren has served as Chief Operating Officer at Discord Inc., a voice, video and text communication service that enables people to gather virtually, including while gaming, since December 2021. Discord is now the dominant communication tool for gamers, having largely taken over that market from TeamSpeak.
Hamren has an impressive resume in the tech world. Prior to joining Discord, Hamren served as a Corporate Vice President at Microsoft Corporation from March 2017 to December 2021 running product and engineering for Xbox consumer products, including developing and launching the Xbox Series X|S and leading Xbox Game Pass. Prior to that, from August 2015 to March 2017, she led Global Marketing and Sales for Oculus at Meta Platforms, Inc. (formerly Facebook, Inc.), where she launched the industry-defining Oculus Rift virtual reality headset.
Earlier in her career Hamren was Vice President of Marketing at Dropcam, Inc., where she ran marketing, subscriptions, and direct sales, prior to the company being sold to Google/Nest.
“Liz is a consumer technology and games enthusiast whose passion for innovation and corporate re-invention will be a valuable asset to Hasbro’s Board as we continue to execute on our proven Brand Blueprint strategy and lean into our strengths as a gaming company,” said Hasbro CEO Chris Cocks. “She brings to the Board extensive and broad management experience as well as a critical digital perspective that will enhance our brands and broader business.”
Jorgensen also comes from the world of gaming as the Executive Vice President of Special Projects at Electronic Arts, which he joined in 2012 as Chief Financial Officer.
Since 2012, he has also managed EA’s Business Development team, which is in charge of all licensing deals in sports and entertainment, as well as the Corporate Development team, which is in charge of all M&A and partnerships.
Prior to joining EA, Jorgensen served as Executive Vice President and Chief Financial Officer of Levi Strauss & Co. from July 2009 to August 2012 and was Executive Vice President and Chief Financial Officer of Yahoo! Inc. from June 2007 to June 2009. Before joining Yahoo! Inc., Mr. Jorgensen also served as the Chief Operating Officer and Co-Director of Investment Banking at Thomas Weisel Partners, which he co-founded in 1998. He has also held financial and operational positions at Montgomery Securities, MAC Group/Gemini Consulting and Marakon Associates.
“Blake’s expertise, leadership skills and strategic growth mindset have been critical to the long-term success of digital gaming powerhouse Electronic Arts,” said Cocks. “He brings to the Hasbro Board a diverse range of experiences and critical digital gaming and technology expertise as Hasbro looks to further develop this segment of its business.”