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Ariel Investment’s John Rogers has been a longtime listener — he and the investment firm’s co-CEO Mellody Hobson have been consiglieri to everyone from Barack Obama to Howard Schultz. Indeed, Ariel’s entire brand has been about friendly advice to CEOs and boards across the world. That gives his decision to be a first-time caller — writing an activist-tinged letter to Mattel earlier this week, urging it to sell itself — particular weight. It’s a frosty welcome for Roger Lynch, the Condé Nast CEO who is replacing Ynon Kreiz. With Ariel’s stakes added to that of another activist investor, owners of more than 9% of Mattel’s shares are pushing the company to find a buyer. Semafor can confirm that Authentic Brands, owner of Reebok and Nine West, has expressed interest, first reported by The Wall Street Journal. The company declined to comment on Authentic’s interest and said it would consider Ariel’s views in the same way it considered the “views of Mattel’s other shareholders.” (Ariel didn’t respond to a request for comment.) But it may just be a matter of time before someone else — a real activist — decides to push on Mattel’s open door.
document fetched 2026-10-10 02:49 · canonical https://semafor.com/article/10/09/2026/ariel-goes-from-listener-to-caller-at-mattel