Global transformation executive John Bayliss has been appointed CEO of Mastermind Toys.
In a LinkedIn post, Bayliss said:
“I’m honoured to step into the role of CEO at Mastermind Toys, a beloved Canadian brand that has inspired generations through the power of play. With 47 stores coast to coast and over 40 years of history, Mastermind Toys has become a trusted destination for families across our country.
“In our home, play has always been more than fun. It’s where imagination took flight — where our kids built their first worlds out of blocks, books, and curiosity. Watching them learn and grow through play has shaped how I see the world and reminded me that creativity, wonder, and connection are foundations for learning — and leadership.
“That’s why I’m so excited to lead a company that champions purposeful play. Mastermind Toys is more than a store — it’s a place where families discover joy, and every toy has the potential to spark something big.
“Thank you to Joseph Mimran, Frank Rocchetti, Stephan Tetrault and the Unity team for the opportunity. I can’t wait to work alongside the passionate and talented Mastermind team to write our next chapter.
“Let’s inspire the next generation — one toy, one story, one gift at a time.”
Bayliss has had senior executive roles at Boston Consulting Group and Walmart Canada.
Recently, Mastermind Toys, Canada’s leading specialty toy and children’s lifestyle retailer, said that entrepreneur Stéphane Tétrault has made an equity investment in the company. This private transaction established Tétrault as a partner alongside co-owners Mimran and Rocchetti.
Tétrault, a French-Canadian entrepreneur, is the founder of Imports Dragon and co-owner of McFarlane Toys, bringing deep expertise in licensing, manufacturing, and toy innovation. With over 25 years in the toy industry, he has built Imports Dragon into one of Canada’s fastest-growing toy companies and helped propel McFarlane Toys to new heights as part of its ownership team. His extensive experience developing licensed products and innovative toys will support Mastermind Toys’ growth strategy and curated assortment, said Mastermind.
In December 2023, Mastermind Toys announced that it has entered into an asset purchase agreement with Unity Acquisitions Inc. Under the terms of the transaction, Unity purchased the majority of Mastermind Toys store locations.
On November 30 of that year, Mastermind Toys obtained Court approval to conduct liquidation sales at 18 of its store locations.
Prior to that, Mastermind Toys had been in business for 39 years and had 66 stores coast-to-coast.
Court documents at the time stated: “The Mastermind Entities are currently facing financial difficulties as a result of declining sales, gross margins, increased competition, commoditization of the toy category and other macro-economic trends facing many Canadian retailers. The Mastermind Entities’ financial difficulties were exacerbated by the COVID-19 pandemic, including as a result of store closures and an increase in shoppers making online purchases.
“Despite implementing cost reduction and other initiatives to improve profitability, Mastermind LP’s revenues and profitability have declined over the past several years. The Mastermind Entities do not have sufficient cash flow or liquidity to continue running its business and do not have sufficient funds to pay their liabilities as they become due.
“The Mastermind Entities are insolvent with liabilities well in excess of $5 million and unable to meet their obligations as they come due.”
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