Jakks Pacific Inc. on Wednesday said its board has promoted Jack McGrath to chief operating officer of the Malibu toymaker.
McGrath is 15-year veteran of the toy industry. He joined Jakks in 1999 as vice president of marketing and product development, and advanced up the ranks to senior vice president of operations in 2000 and executive vice president of operations in 2008. Before Jakks, he was director of marketing at Mattel Inc. in El Segundo.
He takes over the COO job from company co-founder and Chief Executive Stephen Berman, who kept the title after becoming CEO in February 2010.
“Jack has immersed himself in all aspects of the company’s operations, has built and maintained strong relationships with our licensors, and has been instrumental in integrating the operations of the businesses during his dozen years with the company.” Berman said in a statement.
Shares were up 12 cents, or less than 1 percent, to $16.12 in midday trading on the Nasdaq.