Mattel Discloses Stockton Was Fired

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In a late January press release, El Segundo toymaker Mattel Inc. announced the resignation of Chairman and Chief Executive Bryan Stockton. Today, the company told shareholders in its annual proxy statement that, rather than resigning, Stockton’s employment was “terminated.” No further explanation was offered.

Stockton, who according to the proxy statement was eligible for a severance package of more than $2 million at the time of his termination, was brought back less than two months later as a consultant.

Under the terms of that agreement, the Wall Street Journal reported that Stockton was to be paid $125,000 a month for the next year. That would represent annual cash compensation of $1.5 million, 30 percent more than the $1.15 million salary he took home in 2014.

Mattel officials did not return a call seeking comment.

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