Mattel Stock In Focus As CFO Anthony DiSilvestro To Retire: Retail Stays Neutral

Mattel Inc. stock ($MAT) was in focus as the toy and entertainment giant announced that CFO Anthony DiSilvestro will retire in May this year, with retail sentiment turning neutral.

Mattel hasn’t named a successor but has initiated a comprehensive search process with a leading executive search firm, the company said in a statement. DiSilvestro plans to serve as an advisor through August 15 to ensure a smooth transition, according to the statement.

The news comes as Mattel is set to report its fourth quarter financial results on February 4, at 4:05 pm ET.

“Anthony has played a key role in steering Mattel to achieve its strongest financial position in many years,” Ynon Kreiz, chairman and CEO of Mattel, said.

Sentiment on Stocktwits was ‘neutral’ compared to ‘bearish’ a day ago. Message volumes were in the high zone.

DiSilvestro joined Mattel in August 2020. During his tenure of five years as CFO, Mattel received an investment grade rating, strengthened its financial organization, optimized operations, and increased efficiencies with over $400 million of cost savings, the company noted.

DiSilvestro added, “I am proud of all we have accomplished together and believe the company is well-positioned to continue executing its multi-year strategy and create long-term shareholder value.”

Wall Street analysts expect Mattel to post earnings per share of $0.20 on estimated revenue of about $1.64 billion for its fourth quarter results.

Mattel has beaten EPS estimates three out of four times in the past four quarters, according to Stocktwits data.

Mattel's brands include including Barbie, Hot Wheels, Fisher-Price, Thomas & Friends, UNO, among others.

Mattel stock is up 1.18% year-to-date.

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