Joseph Euteneuer — a former CFO at Denver-based Qwest Communications International and later at Sprint Corp. — has been picked as the next chief financial officer of toymaker Mattel Inc.

The veteran telecom executive's CFO appointment at the El Segunda, California-based maker of Barbie dolls and Hot Wheels cars (Nasdaq: MAT) was announced Tuesday but took effect Sept. 25.

Joe Euteneuer replaces Kevin Farr, who left Mattel Sept. 29 after 17 years as CFO, the company said; Farr's planned exit was announced in July, but he stayed on while Mattel searched for a replacement.

Euteneuer arrives amid a shakeup of C-level executives at Mattel, which has struggled as of late. The toymaker posted a second-quarter net loss of $56.1 million, compared with a loss of $19.1 million during the same period last year.

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