Mattel, Inc., the company behind iconic toy brands such as Barbie and Hot Wheels, has appointed Paul Ruh as its new chief financial officer, effective 19 May 2025.

Ruh will succeed Anthony DiSilvestro, who announced his retirement in January after more than five years in the role. DiSilvestro will remain with the company as an advisor until 15 August to ensure a smooth transition.

In his new position at the El Segundo-based toymaker, Ruh will oversee Mattel's global finance organisation, including financial planning and analysis, global shared services, real estate, internal audit, investor relations, tax, and treasury, as well as the company's global technology organisation. He will report directly to Ynon Kreiz, chairman and chief executive officer of Mattel.

"Paul brings to Mattel an exceptional track record as a global finance leader for some of the world's largest consumer brands, guiding companies to achieve operational excellence and driving strong performance," said Kreiz. "We welcome Paul at an exciting chapter in our journey and look forward to his partnership as we continue to successfully execute our multi-year strategy and unlock the full value of our IP outside the toy aisle."

Ruh joins Mattel from consumer health company Kenvue Inc., where he served as chief financial officer and led the separation from Johnson & Johnson Services, Inc., including one of the largest public company splits in history. Prior to Kenvue, he was chief financial officer of Johnson & Johnson Consumer Health.

His experience also includes 13 years at PepsiCo, Inc. in various finance leadership roles, most recently as chief financial officer of its multibillion-dollar Latin America business. Ruh began his career with The Procter & Gamble Company and McKinsey & Company.

"The strength of Mattel's iconic portfolio of global brands is matched only by its potential for future growth," said Ruh. "I look forward to partnering with Ynon and the team to help Mattel execute its strategy and create long-term value for shareholders."

Ruh holds a Bachelor of Science in Engineering from the Universidad Iberoamericana in Mexico City and an MBA from the MIT Sloan School of Management.

Kreiz expressed gratitude to the outgoing DiSilvestro, stating: "He played a pivotal role in our transformation and helped to create the financial strength we have as a company today. We wish him the very best in his retirement."

Ruh joins Mattel at a particularly challenging time for the toymaker. Earlier this week, the company withdrew its forecast for a return to sales growth in 2025, citing the impact of President Donald Trump's trade policies.

The company has stated that the current tariff levels would add approximately $270 million to its expenses this year, which it plans to offset through price increases, cost reductions and supply chain diversification.

Tensions escalated on Thursday when President Trump threatened to impose 100 per cent tariffs on Mattel's toys if the company continues its overseas production. In response to the broader trade environment, Mattel has announced plans to reduce its reliance on Chinese manufacturing, aiming to source less than 15 per cent of toys sold in the US from China by 2026, and less than 10 per cent by 2027.

These supply chain challenges come as the toy industry continues to face post-pandemic adjustments and changing consumer spending patterns, adding further complexity to Ruh's new role at the helm of Mattel's financial operations.

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