Mattel has confirmed that Neil Friedman is to leave his position as president of Mattel Brands in March.
In addition, the company has appointed Bryan Stockton, Mattel's president of international, to the new role of chief operating officer.
Stockton (pictured) will have responsibility for day to day operations, including overseeing the design, development, marketing and sale of all Mattel's toy brands globally, plus its licensed products and digital networks.
"Bryan has an impressive track record at Mattel and I want to congratulate him on his new responsibilities," said Robert Eckert, chairman and CEO at Mattel. "I am confident that the appointment of Bryan as COO will help drive innovation, sustainable growth across brands and countries, and further leverage our scale and global structure as the world's largest toy company.
"I also would like to thank Neil for his many years of service to Mattel and in particular for his contributions to the company's strong performance in recent years. Neil has spent more than 35 years ensuring play is magical for children, building strong relationships in business and paving the way for the next generation of Mattel leadership."