For the kids of yesteryear, it was Barbie vs. blocks. Today it’s Barbie vs. Minecraft, and legacy toy companies are struggling to compete.
Mattel, maker of Barbie and Hot Wheels, has been experimenting on the margins with technology-related ideas. Now the company is putting technology front and center, with the appointment of Margaret Georgiadis, president of Google‘s Americas division since 2011, as its new chief executive. Georgiadis, a former partner at McKinsey & Co., has not previously worked in the toy industry.
Shares of Mattel gained 4.7% following the announcement.
[Photo: courtesy of Mattel]