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TORONTO - Spin Master Corp. (TSX:TOY), a global leader in children’s entertainment, has announced Jonathan Roiter as its new Executive Vice President & Chief Financial Officer, effective May 2025. Roiter will be taking over from Mark Segal, who is set to retire.
Max Rangel, Spin Master’s Global President & CEO, expressed confidence in Roiter’s appointment, citing his extensive background in finance, mergers and acquisitions, and capital markets, as well as his familiarity with the consumer-packaged goods industry. Rangel thanked Segal for his significant contributions during his tenure and welcomed Roiter’s potential to drive long-term shareholder value.
Roiter comes to Spin Master with a strong track record from his most recent role as CFO at Softchoice. His career includes senior financial positions in various publicly traded companies, such as GoodFood, Gildan, and Ace Bakery. He also has consulting experience from his time at McKinsey & Company.
Roiter expressed enthusiasm about joining Spin Master, acknowledging the company’s impressive global success over its 30-year history. He aims to contribute to the company’s growth, strengthen its financial foundation, and enhance shareholder value.
Spin Master, known for its innovative toys, entertainment, and digital games, has a presence in over 100 countries. The company is behind popular brands like PAW Patrol®, Hatchimals®, and Rubik’s® Cube. It also creates multiplatform content through its in-house studio and has a growing digital games portfolio with Toca Boca® and Sago Mini®. For deeper insights into Spin Master’s financial performance and growth potential, investors can access comprehensive analysis and 15+ additional ProTips through InvestingPro’s detailed research reports.
This executive transition is based on a press release statement from Spin Master Corp.
In other recent news, Spin Master Corp. reported a substantial increase in its fourth-quarter 2024 revenue, reaching $649.1 million, which signifies a 29.1% rise compared to the previous year. The company’s annual revenue for 2024 totaled $2.3 billion, marking an 18.8% increase. Spin Master forecasts a consolidated revenue growth of 4.4% to 6% for 2025, with an adjusted EBITDA margin expected between 20% and 21%. Additionally, the company announced a Normal Course Issuer Bid, allowing it to repurchase up to 2,417,522 of its subordinate voting shares, representing about 10% of its public float. This buyback program is scheduled to begin on March 7, 2025, and will be funded through existing cash resources and a credit facility. Spin Master also highlighted strategic initiatives, including reducing manufacturing reliance on China and expanding digital game offerings. Furthermore, the integration of Melissa and Doug has been a significant contributor to Spin Master’s revenue, adding $374.7 million in its first year under the company’s ownership.
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