Richard Dickson, president and chief operating officer at Mattel who is credited for reviving the firm’s Barbie franchise, was poached by Apparel giant Gap.
Richard Dickson will leave his position at the toymaker on August 3 and will join as Gap’s new CEO on August 22, according to a statement issued by Gap.
Mattel made the announcement to its staff about Dickson’s departure on Wednesday (July 27), just days after the “Barbie” movie raked in $155 million in the last three days, making it the biggest film debut so far this year.
Dickson had been serving Mattel for at least two decades. He has been hailed for “reinvigorating Mattel’s iconic brands, including Barbie, Hot Wheels and Fisher-Price,” Gap’s statement said.
For at least a year, Gap has been looking to fill the shoes of its former CEO Sonia Syngal who left the company in July 2022.
Gap’s year-long search for successor ends
Dickson will be filling the shoes of Gap’s former CEO Sonia Syngal who left the company.
Since then, Gap’s chairman Bob Martin has been serving as the interim CEO. But during a May earnings call, Martin told investors that he didn’t expect to hold the position of interim CEO as long as he had.
“Gap Inc. is a portfolio of iconic brands, known for having defined American style with bold thinking and making quality fashion accessible to millions. But it’s the work ahead that excites me most – the chance to work hand-in-hand with the teams to evolve Gap Inc. for a new era,” Dickson said in a statement.
“Under Bobby’s leadership, the team has begun to truly reset the company for long-term success, establishing a new foundation that I’m eager to build on.”
Dickson joins Gap at critical juncture
Dickson, a UCLA graduate, joined Mattel in 2000 and looked after its global brand portfolio, overseeing strategy, brand marketing, design and development.
He also oversaw franchise management, including licensing and merchandising, live events and digital gaming.
Months before the highly anticipated release of the Barbie movie, the 55-year-old entered into licensing agreements with more than 100 brands, including Gap, to sell a range of Barbie-themed merchandise, turning the iconic pink doll into a ubiquitous brand.
Dickson is joining Gap at a time when it’s struggling to right-size its business and win back customers.
The garment company is also experiencing a yearslong sales slump and a series of leadership shake-ups across its portfolio of brands: Athleta, Banana Republic, Old Navy and its namesake banner.
In April, Gap laid off more than 2,000 workers to streamline operations and cut costs.
For all the latest business News Click Here
