TORONTO, July 30,
2024 /CNW/ - Spin Master Corp. ("Spin Master" or the
"Company") (TSX: To; www.spinmaster.com), a leading global
children's entertainment company announced today that Executive
Vice President and Chief Financial Officer, Mark Segal, will retire as CFO in the first half
of 2025. The Company is conducting an external search for a
successor. Segal will assist in the transition and will
subsequently continue at the Company in an advisory capacity.
Segal originally joined Spin Master in 2001 and spent 10 years
as CFO. He rejoined the Company in 2015 as Executive Vice President
& CFO to lead its Initial Public Offering and has since been
instrumental in the Company's international growth, numerous
acquisitions and expansion into digital games. During his second
term, Spin Master's revenues grew from $983
million in 2015 to $1.9
billion in 2023.
"In his distinguished 20 years as CFO with Spin Master, Mark has
steadfastly guided the Company forward by applying his exceptional
financial leadership to maintain a strong balance sheet and cash
flow, which in turn has helped to provide a platform for our growth
ambitions," said Max Rangel, Spin
Master's Global President & CEO. "He has been an invaluable
strategic advisor to me during my time with the Company,
consistently demonstrating his integrity, financial discipline and
commitment to our strategic goals, while also establishing a strong
finance team. On behalf of Spin Master's founders and the Company,
I want to thank Mark for his incredible contributions that have
furthered our leadership within the children's entertainment
industry."
"Spin Master is a remarkable Canadian and global success story
fueled by passion, entrepreneurship and innovation and it's been my
privilege to have contributed to the Company's evolution and growth
journey," said Segal. "I'm extremely proud of what we have
accomplished together and look forward to continuing to contribute
in an advisory capacity."
About Spin Master
Spin Master Corp. (TSX: TOY) is a leading global children's
entertainment company, creating exceptional play experiences
through its three creative centres: Toys, Entertainment and Digital
Games. With distribution in over 100 countries, Spin Master is best
known for award-winning brands PAW Patrol®, Hatchimals®, Bakugan®,
Kinetic Sand®, Air Hogs®, Melissa & Doug®, Rubik's® Cube and
GUND®, and is the global toy licensee for other popular properties.
Spin Master Entertainment creates and produces compelling
multiplatform content, through its in-house studio and partnerships
with outside creators, including the preschool franchise PAW
Patrol, and numerous other original shows, short-form series
and feature films. The Company has an established presence in
digital games, anchored by the Toca Boca® and Sago Mini®
brands, offering open-ended and creative game and educational play
in digital environments. Through Spin Master Ventures, the Company
makes minority investments globally in emerging companies and
start-ups. With 29 offices spanning nearly 20 countries, Spin
Master employs close to 3,000 team members globally. For more
information visit spinmaster.com or follow-on Instagram, Facebook
and Twitter @spinmaster.
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SOURCE Spin Master Corp.