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Hasbro Inc HAS

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Hasbro’s Long-Time Leader Passes After Recently Taking Medical Leave

Jaime M. Katz, CFA Senior Equity Analyst

Analyst Note

| Jaime M. Katz, CFA |

Just two days after notifying investors that narrow-moat Hasbro’s CEO Brian Goldner would take a medical leave of absence, the company followed with a report that he had succumbed to the cancer that had returned in 2020. Goldner had run the company for more than a decade, strategically growing the traditional toy business into an entertainment and content powerhouse, bolting on brands like Power Rangers, Peppa Pig, and PJ Masks. Preparations for continuity were already in place given the decision to step back, with Rich Stoddart, the lead independent director, announced as interim CEO on Oct. 10. Stoddart has been on Hasbro's board since 2014, holding leadership roles at both InnerWorkings (marketing company) and Leo Burnett Worldwide (advertising agency), bringing solid management experience to the helm. In turn, Edward Philip has moved into the lead independent director role to ensure prudence.

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Company Profile

Business Description

Hasbro is a branded play company providing children and families around the world with entertainment offerings based on a world-class brand portfolio. From toys and games to television programming, motion pictures, and a licensing program, Hasbro reaches customers by leveraging its well-known brands such as Transformers, Nerf, and Monopoly. Ownership stakes in Discovery Family, which offers programming from Hasbro Studios, and animation studio Boulder Media bolster Hasbro's multichannel presence. The firm acquired Entertainment One in 2019, bolting on properties like Peppa Pig and PJ Masks.

1027 Newport Avenue, P.O. Box 1059
Pawtucket, RI, 02861
T +1 401 431-8697
Sector Consumer Cyclical
Industry Leisure
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 6,822