Shares of Mattel Inc. sank 6.4% toward a nine-year low in morning trade Friday, to pace the S&P 500's decliners, after the company announced the surprise departure of its chief executive officer. The stock's intraday low of $12.21 was the lowest price seen since April 2, 2009. Late Thursday, the toy maker said CEO Margo Georgiadis was leaving the company after just 15 months in the role, with Ynon Kreiz to become Mattel's fourth CEO in as many years. Analyst Michael Swartz at SunTrust Robinson Humphrey said Georgiadis's departure "lends greater uncertainty" to Mattel's turnaround efforts. Swartz said the CEO change increases the possibility that the board of directors will look to sell the company, which could limit the stock's downside. In the meantime, Swartz said "there is virtually no earnings visibility," meaning the stock could "remain volatile for the foreseeable future." The stock has plunged 50% over the past 12 months, while the S&P 500 has gained 14%.