Would you like to hear a sad, sad tale about how Mattel, an American icon, was destroyed by an incompetent board, arrogance and lack of management expertise? Well then read on my friend, and breathe freely knowing that no other company could possibly walk this same path again... right?
Once upon a time (2017) a company called Hasbro reportedly offered $22 a share for Mattel, a company having a wee bit of trouble. So... basically the only toy company in the top 5 that has been growing for the last 4 years with zero debt offered to merge with Mattel and run that company.
So of course Mattel does the most logical thing! They reject the offer because “it is too low”. Wait... what? Can that be?
But that’s OK, because the previous CEO received $14 million for 7 months of failure, and the current one, Ynon Kreiz (look at his disastrous record on Makerstudio), will also be paid tens of millions of dollars when fired. So everyone wins, right? I mean... toy companies don’t fail, right Toys R US?
The end.
That’s the tale. I hope nobody we know would ever make these mistakes.