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Michael Dolan, a longtime member of Mattel's board of directors, has chosen not to seek re-election at the upcoming 2024 annual shareholder meeting.Dolan's tenure as a director mattel company . (NASDAQ: NASDAQ:), founded in 2004, features roles as independent lead director, chairman of the executive committee, and member of the governance and social responsibility committee.
Mr. Dolan announced his decision to step down on Saturday, March 18, 2024, marking the end of an era at the toy company. His retirement will take effect at the end of his current term, which ends at the 2024 Annual General Meeting. Until then, you will continue to fulfill your existing role.
Mr. Dolan's decision to step down from the board comes after 20 years at Mattel, during which the company underwent significant changes and faced various industry challenges. His leadership role within the Board of Directors, particularly his involvement on the Executive Committee and Governance Committee, has been critical during his tenure with the Company.
This announcement was made public through a filing with the Securities and Exchange Commission. This regulatory disclosure ensures that shareholders and public investors are aware of upcoming changes to a company's governance structure.
As the company prepares for its 2024 annual general meeting, the focus will now turn to identifying a successor for Mr. Dolan's role on the board. Mattel has not yet announced potential candidates to replace Dolan or the selection process.
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