TORONTO, July 30, 2024 /PRNewswire/ - 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.
SOURCE Spin Master Corp.
