Mattel's CEO Thinks Internet-Connected Toys Are the Future
- Four months into job, former Google executive lays out plans
- Strategy focused on mobile, promoting education through play
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Mattel Inc.’s Margo Georgiadis, recruited from Google earlier this year, is shaking up the 72-year-old company by cutting its dividend and investing the money in entertainment and internet-connected toys.
The chief executive officer, who started in February, told analysts that she wants shift Mattel away from being a vendor of Barbie dolls and Hot Wheels at physical stores and into a company centered on mobile technology and activities. The strategy will be funded in part by reducing the dividend 61 percent.