Max Rangel Joins Spin Master as Co-Founders,
Ronnen Harary and Anton Rabie
Transition Their Roles Spring 2021
TORONTO, Dec. 14, 2020 /CNW/ - Spin Master Corp. ("Spin
Master") (TSX: TOY), a leading global children's entertainment
company, today announced its plan for executive leadership
succession, designed to enhance the platform for its next phase of
growth.
Max Rangel has been appointed
Global President effective January
2021 and will assume the position of Global President and
CEO in April 2021. He will be
responsible for the execution of Spin Master's long-term strategy.
Rangel is a seasoned executive who has successfully led global
businesses generating growth across multiple consumer packaged
goods categories. He brings extensive experience in leading
consumer-focused and high performing teams, developing innovative
marketing and brand management programs and managing complex
operations. Most recently, he held progressive positions with SC
Johnson & Sons serving as SVP, President of Lifestyle Brands in
International Markets and SVP, President, Asia Pacific, Africa, Middle
East & Russia regions.
Prior to SC Johnson & Sons, Rangel spent 22 years at
Procter and Gamble and over three
years at The Hershey Company. He is an effective people leader with
a well-established ability to unlock the potential of teams to
boost organizational capability.
Spin Master's Co-Founders and current Co-CEOs, Ronnen Harary and Anton
Rabie, will work closely with Rangel over the next several
months to ensure a seamless transition, following which they will
continue their leadership of the strategic path for Spin Master in
their roles on the Board. Harary will continue to guide the growth
of the digital games creative centre and Rabie will continue to
provide input on Spin Master's culture globally. Both will continue
to oversee Spin Master's long-term strategic vision focused on
charting the company's growth and will remain involved in business
development and all mergers and acquisition activity.
Spin Master also announced its plan for executive leadership
development. The company has established three creative
centres comprising Toys, Entertainment and Digital Games.
Chris Beardall, a toy-industry
veteran with over 20 years at Spin Master, who is currently
Executive Vice President of Global Sales, will be appointed
President, Spin Master Toys, overseeing the toy creative centre.
Beardall will champion profitable growth across the entire toy
portfolio. Jennifer Dodge, an
entertainment-industry veteran, who has been with Spin Master for
12 years and who is currently Executive Vice President,
Entertainment, will be appointed President, Spin Master
Entertainment. Dodge will oversee all aspects of the company's
entertainment creative centre from franchise growth through to
content development, production and distribution globally.
Fredrik Loving, a digital games
industry expert who previously held leadership positions at
Electronic Arts and other leading digital games companies and who
recently joined Spin Master as Executive Vice President, Digital
Studios, will be appointed President, Spin Master Digital Games. In
this new role based in Sweden,
Loving will oversee Spin Master's digital games creative centre
from managing game development at Toca Boca's and Sago Mini's
Stockholm and Toronto studios, through to sales and platform
growth.
"Since founding Spin Master together more than 26 years ago,
we've grown from a single, item-driven business to a leading global
children's entertainment company with three thriving creative
centres in toys, entertainment and digital games," said Harary.
"With a well-defined long-term vision and a strong executive
management team in place, we believe the time is right to
transition Spin Master beyond its founders on a day to day
operating level. This natural transition will allow Anton and I to
emphasize our strategic roles where we can focus our efforts on
shepherding Spin Master's course for the future".
Spin Master's third Co-Founder Ben
Varadi will continue in his role as Chief Creative Officer
supporting all three creative centres and will remain on Spin
Master's Board.
"As we take the next step in the evolution of Spin Master, we've
assembled an exceptional global team poised to deliver on our
long-term vision," said Rabie. "Max is an extraordinary business
leader with a tremendous track record of leading global teams and
harnessing the full potential of individuals to achieve outstanding
results. Collectively, we will continue to nurture a culture where
innovation drives growth and where we continue to deliver the most
imaginative experiences for kids and families around the
world."
Conference Call
Ronnen Harary, Co-CEO
and Mark Segal, Executive Vice President and Chief Financial
Officer will host a conference call to discuss the leadership
changes today, December 14,
2020 at 9:30 a.m. (ET).
The call-in numbers for participants are (647) 427-7450 or (888)
231-8191. A live webcast of the call will be accessible via Spin
Master's website at: http://www.spinmaster.com/events.php.
Following the call, both an audio recording and transcript of the
call will be archived on the same website page.
About Spin Master
Spin Master Corp. (TSX:TOY) is a leading global children's
entertainment company creating exceptional play experiences through
a diverse portfolio of innovative toys, entertainment franchises
and digital games. Spin Master is best known for award-winning
brands PAW Patrol®, Bakugan®, Kinetic Sand®, Air Hogs®, Hatchimals®
and GUND®, and is the toy licensee for other popular properties.
Spin Master Entertainment creates and produces compelling
multiplatform content, stories and endearing characters through its
in-house studio and partnerships with outside creators, including
the preschool success PAW Patrol and 10 other television
series, which are distributed in more than 160 countries. The
Company has an established digital presence anchored by the Toca
Boca® and Sago Mini® brands, which combined have more than 25
million monthly active users. With over 1,800 employees in 28
offices globally, Spin Master distributes products in more than 100
countries. For more information visit spinmaster.com or
follow on Instagram, Facebook and Twitter @spinmaster.
Forward-Looking Statements
Certain statements, other than statements of historical fact,
contained in this Press Release constitute "forward-looking
information" within the meaning of certain securities laws,
including the Securities Act (Ontario), and are based on expectations,
estimates and projections as of the date on which the statements
are made in this Press Release. The words "plans", "expects",
"projected", "estimated", "anticipates", "intend", or "believes",
or variations of such words and phrases or statements that certain
future conditions, actions, events or results "will", "may",
"could", "would", "should", "might" or "can", or negative versions
thereof, "be taken", "occur", "continue" or "be achieved", and
other similar expressions, identify statements containing
forward-looking information. Statements of forward-looking
information in this Press Release include, without limitation,
statements with respect to: executive leadership changes;
succession and transition of the current Co-CEOs; the Company's
position for the future; and growth expectations.
Forward-looking statements are necessarily based upon
management's beliefs, as well as a number of specific factors and
assumptions that, while considered reasonable by management as of
the date on which the statements are made in this Press Release,
are inherently subject to significant business, economic and
competitive uncertainties and contingencies which could result in
the forward-looking statements ultimately being incorrect. By its
nature, forward-looking information is subject to inherent risks
and uncertainties that may be general or specific and which give
rise to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals
and priorities will not be achieved. Known and unknown risk
factors, many of which are beyond the control of the Company, could
cause actual results to differ materially from the forward-looking
information in this Press Release. Such risks and uncertainties
include, without limitation, the factors discussed in the Company's
disclosure materials, including the Annual MD&A and the
Company's most recent Annual Information Form, filed with the
securities regulatory authorities in Canada and available under the Company's
profile on SEDAR (www.sedar.com) These risk factors are not
intended to represent a complete list of the factors that could
affect the Company and investors are cautioned to consider these
and other factors, uncertainties and potential events carefully and
not to put undue reliance on forward-looking statements.
There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Forward-looking statements are provided for the purpose of
providing information about management's expectations and plans
relating to the future. The Company disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
or to explain any material difference between subsequent actual
events and such forward-looking statements, except to the extent
required by applicable law.
Investor Relations Contact: Sophia
Bisoukis, VP, Investor Relations,
investor.Relations@spinmaster.com
Media Contact: Tammy Smitham, VP
Communications, mediarelations@spinmaster.com
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SOURCE Spin Master Corp.