Dive Brief:
- Mattel tapped Sai Koorapati as SVP and CTO effective Monday, the toy company said Wednesday in a release. Koorapati will report to CFO Anthony DiSilvestro.
- Koorapati brings over 25 years of tech leadership experience to the toymaker. Most recently, he served as SVP of global IT at Topgolf Callaway Brands, where he led a digital transformation initiative to accelerate growth and enhance risk management.
- The incoming executive will replace former CTO Sven Gerjets, who departed Mattel in May after nearly seven years at the toy manufacturer.
Dive Insight:
Koorapati’s arrival comes as Mattel considers AI integration across the business and looks to progress toward a three-year, $200 million cost-savings target.
“He brings to our company a strong track record leading digital transformations and proven experience across enterprise applications, customer-facing systems and cybersecurity tools,” DiSilvestro said. “We look forward to the benefit of Sai’s expertise navigating complex technological landscapes and empowering innovation at Mattel.”
Koorapati will oversee all aspects of Mattel’s tech innovation and implementation, such as AI, shared platforms, software and hardware development, online security and privacy, Mattel said.
“As we look to further efficiencies that would leverage our global scale, AI is certainly one of them,” DiSilvestro said during the company’s Q1 2024 earnings call in April, pointing to cost optimization opportunities within its supply chain as well.
In Q2 2024, the toy manufacturer achieved $20 million in savings, putting the company on track to reach its 2024 target of $60 million.
