Mattel Appoints EdgePoint Partner Lee Matheson to Board Under Agreement

Mattel appointed EdgePoint Investment Group Inc. partner Lee Matheson to its board Oct. 21 under a cooperation agreement, adding a director tied to the manager of an approximately 18% stake.

EdgePoint manages the stake in the toy maker. Matheson’s appointment comes as Mattel faces a separate request from Southeastern Asset Management, Inc. to explore a sale.

Southeastern said in a May 7 letter that it managed more than 4% of Mattel’s common stock for clients. It urged the board to consider a sale to private equity, another toy company or a media company.

Mattel responded that its board would consider Southeastern’s views while continuing its toy and family entertainment strategy.

Mattel also named Peter Griffith as CFO and a director in a separate leadership change. Griffith was set to replace Paul Ruh, who will advise the company through Dec. 31 during the transition.