Shake-up at Barbie maker Mattel

New York

BARBIE and other traditional toys are having a much tougher time supporting their elderly parent Mattel, a toymaker significantly weakened by stiff competition from small upstarts and by digital distractions aimed at children.

On Monday, the company reported that toy sales during last month's crucial holiday shopping season plummeted, apparently one of the reasons the company also announced a management shake-up. Bryan Stockton, who worked for Mattel for more than 14 years and was chief executive for the last three, resigned over the weekend.

"The board recognises that the company is not meeting our own expectat…