Paramount Taps Ynon Kreiz as Co-CEO of Combined Paramount-WBD

Paramount Skydance Chair and CEO David Ellison said on September 30, 2026, that departing Mattel CEO Ynon Kreiz will become co-CEO of the soon-to-be combined Paramount-Warner Bros. Discovery, effective October 5, 2026. Kreiz, who spent eight years as Mattel's CEO, brings experience building consumer franchises across traditional, digital and live entertainment and retail products. He will also join the board of directors. The appointment lets Ellison focus on strategy while Kreiz runs day-to-day operations; the combined company's businesses will report jointly to both executives. The move follows U.S. District Judge Araceli Martínez-Olguín's September 30 approval of Paramount's settlement with 12 state attorneys general, clearing the WBD acquisition to close. Executives expect the merger to close in early October. The announcement did not address whether current WBD CEO and President David Zaslav will remain. A source said broader leadership details are unlikely to be disclosed for several days.