EL SEGUNDO, Calif.—Mattel Inc. Chief Executive Officer Robert A. Eckert will retire on Dec. 31 and be replaced by Chief Operating Officer Bryan G. Stockton, the world’s biggest toymaker announced today.

A statement said Eckert, 57, had informed the Mattel board of his decision to leave the job after 11 years with the company. But he will become non-executive chairman of the board.

Stockton, 58, who has been COO for the past year, has been elected to the board, the statement said.

GARDEN GROVE, Calif.—Garden Grove-based Linder’s Furniture confirmed today it is going out of business.

On Nov. 2, the company entered into a “general assignment for the benefit of creditors,” an alternative to bankruptcy, and will start a going-out-of-business sale on Thursday at its 10 Southern California stores, said Craig Venezia of the Gorden Brothers Group, which will handle the liquidation.