As I predicted on this very blog. Mattel and Paramount Skydance were eventually going to begin merging. If not legally (Yet) as a practical matter.
Ynon Kreiz moving upward to Paramount Skydance is the first signs of that. This is not a demotion. Infact it is actually an indication of corporate expansion and synergy at work.
Despite what some would have you believe. This is a good thing for both Paramount Skydance and Mattel -- The original indicator this was on the horizon was the shifting of the TMNT Master License to Mattel. That Mattel's own CEO has now joined Paramount Skydance a company tells me there is soft integration underway between the two entities.
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