Cond Nast CEO Roger Lynch is leaving to run toy giant Mattel. Read his memo to staffers.

Image for article Cond Nast CEO Roger Lynch is leaving to run toy giant Mattel. Read his memo to staffers.
News Source : Business Insider

News Summary

  • Condé Nast CEO Roger Lynch is stepping down, according to a memo viewed by Business Insider.
  • Lynch told employees on Wednesday that he's leaving after more than seven years to run toy giant Mattel.
  • Current Mattel CEO Ynon Kreiz, who had looked to expand the Barbie parent into entertainment, will step down on Friday.
  • Mattel shares, which are down 21% in the last 12 months, fell more than 2% on Wednesday as US stocks broadly rose.
  • Mike Perlis will be the interim CEO of the publishing company behind Vogue, Vanity Fair, The New Yorker, and GQ.
Theo Wargo/Getty Images Cond Nast CEO Roger Lynch is stepping down, according to a memo sent on Wednesday and viewed by Business Insider.

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