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Home>Mattel Taps Former Sprint CFO in Executive Revamp

Mattel Taps Former Sprint CFO in Executive Revamp

Mattel Taps Former Sprint CFO in Executive Revamp


 By Ezequiel Minaya and Tatyana Shumsky 

Troubled toy maker Mattel Inc. announced an overhaul of its top ranks Tuesday with a roster of industry outsiders -- including a new financial chief.

The moves come as recently named chief executive Margo Georgiadis attempts to turnaround a company that has stumbled to keep pace in the digital arena.

Mattel said Joseph Euteneuer, former CFO at Sprint Corp., has taken over for long-serving financial head Kevin Farr, who spent about 17 years in the role.

"He has been instrumental in leading companies in a variety of industries through times of transformation and turnaround, which will be invaluable for Mattel," said Ms. Georgiadis in a statement. Ms. Georgiadis, a former executive for Alphabet Inc.'s Google, has been with Mattel since February.

Mattel didn't immediately respond to a request for comment.

Mr. Euteneuer served as Sprint's CFO for a little more than four years, leaving the role in August 2015. He became co-CEO and CFO for the Americas of Rivada Networks, a Virginia-based spectrum trading company last spring. A company spokesman said Mr. Euteneuer will remain on Rivada's board.

Mr. Euteneuer also held CFO roles at two companies before their mergers, Qwest Communications before its tie-up with CenturyLink Inc., and XM Satellite Radio before its merger with Sirius.

He might have a steep learning curve at Mattel. All of Mr. Euteneuer's noteworthy experience comes from the telecom industry, which is a different business model to a consumer product company like Mattel, said Linda Bolton Weiser, senior analyst at D.A. Davidson & Co.

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