TORONTO -- Toy company Spin Master Corp. says co-founders Ronnen Harary and Anton Rabie will step down from their co-chief executives role next year.

The company says Max Rangel has been appointed global president effective in January and will add the chief executive title in April.

He joins Spin Master from SC Johnson & Sons.

Harary and Rabie are expected to work with Rangel over the next several months and remain on the company's board.

Spin Master says Harary will also continue to guide the growth of the company's digital games creative centre and Rabie will continue to provide input on the company's culture globally.

Spin Master's third co-founder Ben Varadi will continue in his role as chief creative officer.