MAT - Activist Investor Wants Barbie Maker Mattel To Part Ways With Fisher-Price American Girl Seeks Organizational Changes | Benzinga
Barington Capital, an activist investor, has acquired an undisclosed stake in toymaker Mattel (NASDAQ:MAT) and urges the company to make significant changes to improve its underperforming stock.
Barington proposes several measures, including exploring strategic alternatives for its Fisher-Price and American Girl businesses, addressing excessive stock-based compensation, and initiating a $2 billion share-buyback plan.
The activist investor, led by founder James Mitarotonda, believes that implementing these actions, combined with improvements in Mattel’s core fashion-doll and toy-vehicle divisions, could potentially double the share price in three years.
As detailed in a letter to Mattel CEO Ynon Kreiz, the investor believes the ...