Former Maker Studios CEO Ynon Kreiz will become CEO of Mattel on April 26, succeeding Margo Georgiadis, who departs a little over a year after joining the toymaker from her previous position at Google. A Mattel statement said Georgiadis “informed the Board of her decision to step down from her executive and Board roles to pursue a new opportunity in the technology sector.”

Kreiz already had been named to succeed Christopher Sinclair as Chairman (Inside Licensing, Feb. 9)  effective following the company Annual Shareholders meeting in May. Kreiz joined the Mattel board last June

Georgiadis last year unveiled plans to slash costs by $650 million. But Mattel shares have fallen nearly 50% since she took over in February 2017 and company struggled amid declining sales and the Toys R Us bankruptcy and liquidation.