Mattel CEO departs as Barbie maker struggles to keep kids' interest

Bryan Stockton resigned from his post as CEO of Mattel on Monday after preliminary sales numbers indicated another disappointing holiday season for the struggling toy giant.

The company announced that chairman Christopher Sinclair will take over as interim CEO until a replacement is determined. Alongside news of the departure, the toymaker announced that sales fell short of analyst expectations for the last three months of 2014, capping off several quarters of sagging sales.

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A Wall Street Journal profile last month characterized the company as bogged down in corporate bureaucracy and stymied by a lack of creativity. The company's identity remains largely rooted in decades-old mainstays like Barbie and Hot Wheels — at a time when kids are increasingly turning to forms of digital play. Read more...

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