Hasta La Creative!

Mattel’s Margo Georgiadis, recruited from Google earlier this year, is shaking up the 72-year-old company by cutting its dividend and investing the money in entertainment and internet-connected toys.

The chief executive officer, who started in February, told analysts that she wants shift Mattel away from being a vendor of Barbie dolls and Hot Wheels at physical stores and into a company centered on mobile technology and activities. The strategy will be funded in part by reducing the dividend 61%.

“It’s time to reinvent this company to ensure it reflects where consumers and the market is going,” Georgiadis said in an interview before a presentation to analysts in New York. Mattel will go from being considered a traditional toymaker to a “future-proofed kid-experience company.”

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