Mattel President Steve Totzke Steps Down
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 07 2026
0mins
Should l Buy MAT?
Mattel announced that Steve Totzke, President and Chief Commercial Officer, will step down from his role effective May 1. Sanjay Luthra, Executive Vice President and Managing Director of EMEA and Global Direct-to-Consumer, has been appointed to succeed Totzke as Chief Commercial Officer, overseeing Mattel's global sales and commercial operations. Totzke will continue as an Executive Advisor and President, Strategic Transition, through December 31, 2026, to "ensure a smooth transition," the company stated. Luthra will report to Mattel Chairman and CEO Ynon Kreiz, who said: "Steve has built a world-class commercial organization, deepened our relationships with retail partners, and expanded our global reach while developing countless team members at Mattel. Sanjay is a Mattel veteran who has steered EMEA's transformation to achieve record sales and growth during his tenure, and expanded Mattel's leadership across the region in key categories. On behalf of our Board and everyone at Mattel, we thank Steve for his passion and many contributions, and I am personally grateful for his years of partnership. We look forward to Sanjay's impact in executing our brand-centric strategy to grow our IP-driven play and family entertainment business."
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Analyst Views on MAT
Wall Street analysts forecast MAT stock price to rise
8 Analyst Rating
4 Buy
4 Hold
0 Sell
Moderate Buy
Current: 14.910
Low
20.00
Averages
24.43
High
30.00
Current: 14.910
Low
20.00
Averages
24.43
High
30.00
About MAT
Mattel, Inc. is a global toy and family entertainment company. The Company's operating segments include North America and International. The North America segment markets and sells toys and consumer products in the United States and Canada. Products marketed and sold by the International segment are generally the same as those marketed and sold by the North America segment, although some are developed or adapted for particular international markets. Its franchise brands include Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO, Masters of the Universe, Matchbox, Monster High, MEGA, and Polly Pocket, as well as other popular properties that it owns or licensed in partnership with global entertainment companies. Its offerings include toys, content, consumer products, digital and live experiences. The Company’s products are sold directly to consumers through its e-commerce platform and various third-party e-commerce channels.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Fed's Flexibility: The suspension of tariffs would provide the Federal Reserve with greater flexibility to potentially lower interest rates, which would be positive news for many stocks, especially given that inflation has risen due to tariffs.
- Temporary Market Rebound: Although a tariff suspension could trigger an initial market rebound, the momentum may be fleeting due to other factors such as geopolitical risks, necessitating caution among investors.
- Diversified Investment Strategy: In an uncertain market environment, investors should ensure their portfolios are well-diversified to cushion against underperforming sectors, with a long-term mindset being crucial to navigate market volatility.
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- Potential Impact of Tariff Suspension: Should Trump decide to suspend tariffs, many affected companies, such as Nike and Mattel, could see immediate earnings boosts, potentially driving stock prices higher, especially ahead of the upcoming congressional elections.
- Federal Reserve Policy Flexibility: The suspension of tariffs could provide the Federal Reserve with more room to lower interest rates, further stimulating the stock market, particularly as Trump's tariffs have been identified as a contributing factor to inflation.
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- Totzke's Contributions: Under Totzke's leadership, Mattel significantly enhanced its global market reach through an all-channel growth strategy in collaboration with major retail partners, while advancing its e-commerce and direct-to-consumer capabilities, thereby strengthening brand influence.
- Luthra's Background: Since joining Mattel in 2003, Luthra has held several key positions, successfully transforming EMEA operations to achieve record sales growth, and will continue to drive the company's global strategy in the adult collector market in his new role.
- Future Outlook: Luthra expressed his commitment to leveraging Mattel's extensive brand portfolio and strong partnerships to lead the company in innovation and growth, ensuring Mattel's continued impact in the toy and family entertainment market.
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- Strategic Necessity: Analysts emphasize that developing a robust animated film portfolio is crucial for the newly formed Paramount/Warners Bros. combo to capture a broader audience and achieve box office growth in a competitive market.
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- Global Market Strategy: By 2025, international markets accounted for 44% of Pop Mart's revenue, with expectations for increased contributions from the U.S. and Europe, reflecting the company's proactive global expansion strategy.
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