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Paramount is bringing in a seasoned entertainment executive to help lead the company into its next chapter. Ynon Kreiz, currently chairman and chief executive officer of Mattel, is joining Paramount as co-CEO, according to Variety.
Kreiz has built a reputation for transforming a legacy toy brand into a broader entertainment powerhouse. During his tenure at Mattel, he oversaw the company's expansion into film and television, most notably with the blockbuster success of the Barbie movie. That experience in bridging consumer brands with theatrical and streaming content is expected to translate directly to Paramount's own ambitions.
His appointment signals that Paramount intends to compete aggressively across film, television, and franchise-driven entertainment. By tapping a leader with deep expertise in intellectual property and brand management, the studio is positioning itself to make the most of its extensive catalog of beloved properties.
Kreiz's arrival marks a significant leadership shake-up at the top of the company, and his partnership with David Ellison will be central to shaping the studio's direction in the months ahead.
Kreiz will help David Ellison run Paramount, serving alongside him as co-CEO. Ellison, who is taking on the role of CEO, will lead the company with Kreiz in a shared leadership structure.
Ellison described Kreiz as a leader he has long admired, praising his track record of building successful entertainment businesses and his understanding of how to connect creative talent with audiences. He said the two of them would work closely together as Paramount enters its next chapter.
For Kreiz, the partnership is a natural fit. He has spent years running a company where creative storytelling and franchise management sit at the centre of the business, and he has spoken about the importance of backing talent while keeping a clear eye on how content performs.
That combination of creative instinct and commercial discipline is exactly what Ellison is looking for as the two prepare to take the reins. Kreiz will help David Ellison run Paramount, and together they will shape the company's strategy going forward.
The Paramount that Ynon Kreiz and David Ellison will lead is being described as a new and huger company. The word choice is deliberate: this is not a modest refresh of an existing studio, but a larger entity altogether.
That sense of scale runs through the announcement itself. Kreiz arrives as Co-CEO, and Ellison partners with him at the top of the organisation. Together they are positioned to steer a Paramount that is bigger than the one that came before.
The phrase "new and huger" captures both halves of the pitch:
For observers, the framing sets expectations. A new and huger Paramount implies change at the executive level and growth in the business itself, with Kreiz and Ellison cast as the pair responsible for delivering both.
Kreiz's appointment as co-CEO is part of the leadership of the new, larger Paramount. His arrival signals that the company will be run by two executives rather than one, with Kreiz and David Ellison sharing the top role. For employees, partners and investors, that structure defines who is in charge as the newly enlarged Paramount takes shape.
The pairing also brings together Kreiz's experience running a major entertainment company with Ellison's position at the head of Paramount's new leadership. Their joint tenure is the framework through which the bigger company will be directed.
Because the co-CEO arrangement is tied directly to the formation of the larger Paramount, it is a defining feature of the company's next chapter rather than a temporary arrangement. The leadership of the new, larger Paramount now rests with Kreiz and Ellison together.
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