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Mattel Names Operations, Business Development Executives

November 02, 2000|Reuters

Beleaguered toy maker Mattel Inc. named two new executives to head its business development and operations in a move welcomed by analysts as an effort to boost efficiency at the maker of Barbie dolls and Hot Wheels cars.

El Segundo-based Mattel named Bryan Stockton executive vice president of business planning and development and Thomas Debrowski executive vice president of worldwide operations. Both men came from the food industry, where they worked with current Mattel Chief Executive Robert Eckert in his previous job as CEO of Kraft Foods Inc. Stockton was formerly CEO of privately owned Basic Vegetable Products and Debrowski was director of grocery operations for Kraft USA.

The appointments reflect Eckert's commitment to reducing costs, said Merrill Lynch Global Securities analyst Hayley Kissel.

Mattel stock has been in the doldrums amid disappointing earnings in recent quarters led by losses at its former software unit, the Learning Co. Eckert replaced former Mattel CEO Jill Barad in May. Mattel stock rose 6 cents to close at $13 on the New York Stock Exchange.

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