Bryan Stockton, chief executive and chairman of Mattel has resigned after his company reported a 6% fall in sales over the Christmas season. Board member Christopher Sinclair will take over for the time being until a replacement is found.
Full-year net profits fell more than $400 million (£266 million) to $498.9 million whilst shares fell 11%.
Mattel said “that a strong US dollar hurt sales, which fell to $1.99bn (£1.32bn) in the quarter to December 31st and were down 7% to just over $6bn for 2014”.
