The USA Leaders
October 1, 2026
Los Angeles, California – Paramount is preparing for a major leadership addition as David Ellison names Ynon Kreiz as Paramount’s new co-CEO of the anticipated combined Paramount-Warner Bros. Discovery business.
Kreiz, who currently serves as Mattel CEO, will join Paramount on October 5, 2026. His new role is expected to take effect when the transaction closes, with the companies currently expecting the deal to close on October 6.
Ynon Kreiz Named Paramount’s New Co-CEO
Paramount Chairman and CEO David Ellison announced that Kreiz will serve as co-CEO of the anticipated combined company alongside him. Paramount said Kreiz will help oversee the day-to-day operations and integration of the businesses.
For Kreiz, the appointment marks a move from the toy and entertainment industry into a broader global media business. He is leaving his position as Mattel CEO to take on the new leadership role.
The appointment is part of Paramount’s preparations for operating the combined business following the expected completion of the transaction.
What the New Paramount CEO Role Means
As Paramount’s new co-CEO, Kreiz will work with Ellison to manage the combined company and its integration.
Paramount has described the planned company as a global media group. The available information confirms that Kreiz will help manage daily operations and integration, while other details about the future leadership structure are yet to be announced.
| Key Detail | Information |
| New co-CEO | Ynon Kreiz |
| Current role | Mattel CEO |
| Paramount leadership | David Ellison and Ynon Kreiz |
| Kreiz joins Paramount | October 5, 2026 |
| Expected transaction closing | October 6, 2026 |
| Transaction | Paramount and Warner Bros. Discovery |
Paramount-Warner Bros. Merger Nears Closing
The leadership announcement comes as the Paramount-Warner Bros merger moves toward its expected closing date.
A federal judge has allowed Paramount to close its approximately $110 billion acquisition of Warner Bros. Discovery. Paramount and Warner Bros. Discovery have said they expect the transaction to close on October 6, 2026.
According to the reports, Kreiz’s appointment is in connection with Paramount’s planned acquisition.
The available reporting does not establish that the transaction had formally closed as of September 30. Instead, the companies were still describing October 6 as the expected closing date.
What to Know About the New CEO of Paramount
Kreiz brings experience from Mattel, where he serves as chief executive. His appointment gives him a leadership role in the planned combined media business alongside Ellison.
The appointment is another important step for Paramount as it prepares for the next stage of its business following the proposed transaction.
Details such as Kreiz’s compensation, the exact division of responsibilities between the two CEOs. and his specific strategic priorities have not been provided in the available reports.
What Comes Next for Paramount?
The immediate focus is on completing the transaction and preparing the combined businesses for integration. Paramount’s new co-CEO appointment gives the planned company an additional senior executive as it moves toward that stage.
The leadership change gives a clearer idea of how Paramount plans to manage the two businesses together. More details about the company’s structure and priorities are expected as the deal moves forward.
Neelmani Yadav
