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NEW YORK (AP) — Mattel, the maker of Barbie dolls and Hot Wheels cars, named Christopher Sinclair as its permanent CEO Thursday.
Sinclair has been interim CEO since January, when Bryan Stockton resigned from the top job as the company reported disappointing fourth-quarter results.
During the important holiday shopping season, Barbie sales fell 12 percent from a year ago, American Girl sales fell 4 percent and Fisher-Price sales fell 11 percent.
Sinclair, 64, has been on Mattel Inc.'s board for about 19 years and was a former executive at PepsiCo Inc. He will remain chairman.
Mattel also promoted President, Chief Brands Officer Richard Dickson to president and chief operating officer. Dickson, 47, rejoined the company in 2014 after leaving four years earlier for clothing company The Jones Group Inc.
Shares of the El Segundo, California, toy maker fell 43 cents to $22.65 Thursday. The stock is down 44 percent in the past year.
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