JAKKS Pacific reshuffles board, sets annual meeting for June 20

SANTA MONICA, Calif. - JAKKS Pacific, Inc. (NASDAQ: JAKK), a leading toy and consumer products manufacturer, announced today a reorganization of its Board of Directors and the date for its 2025 annual meeting. The changes come as the company continues to navigate the post-recapitalization landscape following its financial restructuring in 2019. According to InvestingPro data, JAKKS has demonstrated strong financial recovery, maintaining a healthy balance sheet with more cash than debt and an impressive P/E ratio of 7.8x.

The company’s annual meeting is scheduled for June 20, 2025. Prior to this meeting, there will be a reshuffle in the Board’s composition, with the planned departure of three directors who were appointed as part of the 2019 recapitalization process. Matthew Winkler, Joshua Cascade, and Carole Levine will be stepping down from their positions.

In their stead, the Board has approved the nomination of Jonathan R. Liebman and Jordan Moelis as candidates for election to Class II of the Board. Liebman is the co-CEO and chair of Brillstein Entertainment Partners and a leader at Wasserman Media Group LLC, while Moelis is the Managing Partner of Deep Field Asset Management LLC and Co-President of Brindle Capital LLC. They will join Alexander Shoghi, a current Class II director, to form the new trio of Class II members.

Following Winkler’s resignation, the Board will reduce its size from seven to six directors, with Class III of the Board being reduced to a single director.

Stephen Berman, Chairman and CEO of JAKKS Pacific, expressed confidence in the restructuring, stating it aligns with the company’s trajectory of growth and the goal of maximizing shareholder returns. He also extended gratitude to the departing board members for their contributions through the company’s financial recovery.

JAKKS Pacific is known for its diverse range of proprietary and licensed products, including toys and consumer products under brands such as AirTitans®, Disguise®, and Xtreme Power Dozer®. The company emphasizes its impact on children’s lives through its products and charitable contributions. With a market capitalization of $284 million and an overall financial health score rated as "GOOD" by InvestingPro, the company appears well-positioned for future growth. Investors can access detailed analysis and 7 additional ProTips about JAKKS Pacific through InvestingPro’s comprehensive research reports.

The information in this article is based on a press release statement from JAKKS Pacific, Inc.

In other recent news, JAKKS Pacific reported fourth-quarter earnings that did not meet analyst expectations, with adjusted earnings per share at -$0.67, slightly missing the consensus estimate of -$0.66. Revenue for the quarter was $130.7 million, falling short of the anticipated $133.28 million. Despite these results, net sales for the quarter increased by 3% year-over-year to $130.7 million, with a notable 46% rise in Costumes net sales to $12.5 million, though the Toys/Consumer Products segment saw a 1% decline to $118.2 million. Gross margin improved by 70 basis points to 27.2% compared to the previous year. For the full year 2024, net sales were reported at $691.0 million, a 3% decrease from 2023. Additionally, JAKKS Pacific announced it will begin a quarterly cash dividend of $0.25 per share, payable on March 31, 2025. In other developments, JAKKS Pacific launched a new collection of beach and outdoor items under the Quiksilver and Roxy brands, available exclusively on Amazon. This expansion follows a partnership with Authentic Brands Group, aimed at growing its seasonal product segment.

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