Paramount Skydance and Warner Bros. Discovery have named former Mattel CEO Ynon Kreiz as co-CEO of the combined company, one week before the $110 billion merger is expected to close.

Paramount CEO David Ellison announced the appointment today. Kreiz takes the role effective at closing and joins the board of directors, with a start date at Paramount of Oct. 5, according to the company. Ellison remains chairman and CEO.

The two executives will split responsibilities. Ellison will focus on long-term strategy and vision, including talent relationships, strategic partnerships, technology, and capital allocation. Kreiz will run day-to-day management.

Kreiz just stepped down as CEO of Mattel after 8 years, where he led the business transformation and a brand-centric strategy. His new role puts an executive with public-company operating experience at the top of one of the largest media mergers in recent memory.

Ellison framed the hire as essential to the scale of the integration. "Bringing together Paramount and Warner Bros. Discovery to create a next-generation global media company is a transformational moment for our industry. Leading it takes a rare combination of strategic vision, operational depth, and experience running a public company at the highest levels of media. Ynon brings all three. In Ynon, I'm adding a partner with strong leadership and the operating firepower this integration demands," Ellison said in a statement.

The dual-CEO structure mirrors a playbook already running at Netflix, where Ted Sarandos and Greg Peters serve as co-CEOs. Netflix was previously in line to merge with WBD until that deal fell apart earlier this year amid Paramount's new bid.

The leadership shuffle extends further down the streaming organization. Cindy Holland, head of Paramount+, is exiting the company ahead of the merger. Casey Bloys, head of HBO, will helm streaming for the combined company.

For marketers and media buyers, the consolidation concentrates a large portfolio of streaming and entertainment assets under a single leadership team — one led by an Ellison-Kreiz pairing that separates strategic direction from operational execution as the integration begins.