Mattel (NASDAQ:MAT), Inc said on Thursday that its Chief Financial Officer, Anthony DiSilvestro, is set to retire on May 15, 2025.
The toy company has launched a search for his successor with the help of a leading executive search firm.
To facilitate a smooth transition, DiSilvestro will stay on as an advisor until August 15, 2025, following his retirement.
DiSilvestro's tenure as CFO, which began in August 2020, saw Mattel achieve a notable investment grade rating and implement significant cost-saving measures, resulting in over $400 million in savings.
"...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," DiSilvestro said in a press release.
"As I move to the next chapter of my life in retirement, I look forward to watching Mattel’s continued success for years to come,” he added.
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