Stephen Berman will extend his tenure as Chairman and CEO of Jakks Pacific for another year, remaining on until at least 31 December 2021.
The contract renewal will “provide additional stability for the company to enable it to achieve its objectives”, he said, weeks after delivering the company’s best quarter in almost five years: Q3 sales rose 18 per cent y-o-y.
The Jakks team will also welcome new expertise with the appointment of John Kimble (pictured top) as Executive Vice President and Chief Financial Officer, who started yesterday, 20 November.
The former Mattel and Disney man brings more than 20 years’ experience in financial planning and analysis, accounting and financial reporting to the role, as well as expertise managing the tax, internal audit, treasury, and investor relations functions.
He takes up the post from Brent T. Novak, Jakks’ former CFO who announced his departure from the company earlier this month to pursue other opportunities.
“We are very excited to welcome John to the team and add his broad experience in finance and licensing to our management team,” says Stephen.
“Moreover, John’s decades of experience working within the toy industry, together with his extensive background with licensing, is a perfect fit as we look to increase our IP portfolio with new and exciting products.”
John adds: “With Jakks’s recent recapitalisation in the rear window, I believe that my skill sets, which include experience in finance, licensing, gaming, and international sales, will allow me to assist Jakks in the development and implementation of its business strategies aimed at increasing shareholder value.”