Ynon Kreiz Named Paramount Co-CEO with David Ellison

Leadership Division of Labor Under Ellison and Kreiz

Under the newly established co-CEO framework, Ellison and Kreiz will split core executive duties for the multi-billion-dollar enterprise. Ellison will concentrate on the company’s long-term strategy, creative vision, talent relationships, strategic partnerships, technology, and capital allocation, as detailed in Paramount press statements. Meanwhile, Kreiz will manage day-to-day operations and oversee the complex business integration.

This division of labor mirrors successful co-CEO structures at other major entertainment and technology companies, such as Ted Sarandos and Greg Peters at Netflix. RedBird Capital Partners founder Gerry Cardinale, a Paramount board member and key architect of both the Skydance-Paramount deal and the WBD combination, stated that Ellison brought in Kreiz to supply the operational firepower required for the massive corporate merger.

Regulatory Approval and Antitrust Settlement Context

The executive appointment follows a protracted regulatory battle over the blockbuster media transaction. Ellison first set his sights on acquiring Warner Bros. Discovery in September 2025, subsequently encountering a competitive bidding war against Netflix and intense antitrust scrutiny from state regulators. A group of state attorneys general previously filed a lawsuit seeking to block the combination before Paramount reached an antitrust settlement.

With a federal judge entering an order on Wednesday permitting the transaction to proceed, the final hurdles have cleared. The merger ranks among the largest media consolidations in history, uniting the Paramount and Warner Bros. film studios, streaming services including HBO Max and Paramount+, and traditional television networks ranging from CBS and CNN to MTV and HGTV.

Ynon Kreiz’s Background and Mattel Departure

Kreiz’s move to Paramount follows an eight-year tenure as the chief executive of Mattel, where his departure was announced on Wednesday morning prior to the Paramount announcement. During his time running the toy and consumer products giant, Kreiz spearheaded major operational transformations and oversaw the theatrical release of Barbie, which finished 2023 as the highest-grossing domestic film release.

Before his tenure at Mattel, Kreiz built an extensive track record in media and digital entertainment. He served as the CEO of Maker Studios prior to its acquisition by The Walt Disney Company for $500 million, ran Endemol Group as chairman and CEO, and helped launch Fox Kids Europe alongside Haim Saban. Born in Tel Aviv and holding an MBA from UCLA, Kreiz also worked as a venture capitalist investing in media and technology startups.

Frequently Asked Questions About the Paramount-WBD Leadership Structure

When does Ynon Kreiz assume his role as co-CEO?

Kreiz will officially take on his new post as co-CEO and join the company’s board of directors upon the close of the merger deal, which is expected to happen early next week.

What will David Ellison focus on in the new company?

Ellison will handle long-term strategy, creative vision and direction, talent relationships, strategic partnerships, technology, and capital allocation.

How does this appointment compare to past executive roles at Paramount?

Unlike former Paramount president Jeff Shell, who departed the company under a cloud last April, Kreiz enters his co-CEO position with a full-throated endorsement from Ellison and a complete delineation of operational expectations.

What major entertainment assets does Kreiz bring experience from?

At Mattel, Kreiz partnered with Warner Bros. on the billion-dollar-plus success of Barbie and inked development deals for upcoming franchise adaptations like a Hot Wheels movie. His background also includes leadership roles at Maker Studios, Endemol Group, and Fox Kids Europe.