Mattel 2011 Annual Report Download - page 7

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What will remain
the same?
One thing that will remain the
same is our commitment to
achieving consistent growth
and fi nancial performance
— this means Mattel will
continue to strive to be a very
well-run consumer goods
company. We’ve delivered a
strong three-year trend of
margin expansion, cash fl ow,
earnings and share price
growth, as well as disciplined
capital deployment, all of which
have resulted in strong TSR
gains. We’ve also accelerated
our sales growth in the past
two years. Mattel will continue
to be a company that can
weather economic storms —
not only boasting the best
brands, but also the industry’s
most expansive global sourcing,
manufacturing and distribution
organizations, and a best-in-
class commercial country and
customer management system.
When you look at our portfolio
of brands and countries, the
discipline of our strategies and
the quality of our organization,
we’re well-positioned for
future growth.
Having said all of this, one thing
I have learned from my 11 years
at Mattel is that the toy industry
is always changing — I call it
the “continuity of change.”
In the last decade, we’ve seen
changes in the retail landscape
as retailer strategies have evolved
and online shopping has become
a signifi cant channel of distribu-
tion for toys. Countries and
economies are ever-changing.
The burgeoning middle class in
Latin America and certain parts
of Asia is creating a whole new
generation of toy-buyers. And
children are always changing.
I know this from comparing
how my own kids played with
how my granddaughter plays.
The play patterns are similar
between the generations,
but today’s toys need to keep
pace with rapid changes in
technology, fashion preferences
and cultural trends. Mattel
is always changing and
evolving too, which has helped
us to remain the world’s No. 1
toy company.
What’s going to
change now that I
am CEO?
One of my guiding principles
in life is “to be happy, but
never satisfi ed.” This is the
approach I am taking in my
new role at Mattel.
Since I was appointed CEO,
there are a handful of core
questions that I am asked
repeatedly:
• What will remain the same?
• What’s going to change now
that you are CEO?
• How does Mattel plan
to achieve its vision?
5
2011 ANNUAL REPORT