Hasbro Announces Impending Retirement of President and Chief Operating Officer John Frascotti
October 07 2020 - 4:30PM
Business Wire
Hasbro, Inc. (NASDAQ: HAS) today announced John Frascotti
will retire from his current position as President and Chief
Operating Officer when his contract ends on March 31, 2021. At the
culmination of his existing contract, he will remain employed by
the Company for one year in the role of special advisor to the
Chief Executive Officer, Brian Goldner, through April 1, 2022.
"John's strategic vision and consumer-centric approach to our
brands and our business, combined with his authentic leadership
style, has played a pivotal role in our evolution from a
traditional toy and game company to a global play and entertainment
leader," said Mr. Goldner. "John has been a critical member of our
senior management team for the past 13 years and leaves big shoes
to fill, but I am extremely confident in the leadership of our
company and the strength of our teams to lead Hasbro into the
future."
Mr. Frascotti joined Hasbro in 2008 as Chief Marketing Officer,
became President of Hasbro Brands in 2014, and became President of
Hasbro in 2017. In 2018, he was also named Chief Operating Officer,
and was added to Hasbro’s Board of Directors. During his tenure, he
has played a critical role in the re-imagination and re-invention
of Hasbro's world-class portfolio of brands. His experience in
brand building, brand marketing, digital marketing, entertainment,
licensing and operations has contributed to expanding the reach of
these brands globally.
“I’d like to express my sincere gratitude to the phenomenal
Hasbro team, our Chairman and Board of Directors, and my deep
appreciation for having the opportunity to work with such
passionate, creative and dedicated people,” said Mr. Frascotti. “I
have the utmost confidence in the incredibly talented team leading
Hasbro’s next chapter and look forward to continuing to provide
guidance and counsel for the remainder of my tenure.”
Mr. Frascotti will serve out the remainder of his current
one-year term as a member of the Hasbro Board of Directors but will
not stand for election at the May 2021 Annual Meeting.
About Hasbro
Hasbro (NASDAQ: HAS) is a global play and entertainment company
committed to Creating the World's Best Play and Entertainment
Experiences. From toys, games and consumer products to television,
movies, digital gaming, live action, music, and virtual reality
experiences, Hasbro connects to global audiences by bringing to
life great innovations, stories and brands across established and
inventive platforms. Hasbro’s iconic brands include NERF, MAGIC:
THE GATHERING, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY,
BABY ALIVE, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as
premier partner brands. Through its global entertainment studio,
eOne, Hasbro is building its brands globally through great
storytelling and content on all screens. Hasbro is committed to
making the world a better place for all children and all families
through corporate social responsibility and philanthropy. Hasbro
ranked among the 2020 100 Best Corporate Citizens by 3BL Media and
has been named one of the World’s Most Ethical Companies® by
Ethisphere Institute for the past nine years. We routinely share
important business and brand updates on our Investor Relations
website, Newsroom and social channels (@Hasbro on Twitter and
Instagram.)
© 2020 Hasbro, Inc. All Rights Reserved. HAS-IR HAS-C
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Press Contact: Julie Duffy | Hasbro, Inc. | (401) 727-5931 |
julie.duffy@hasbro.com
Investor Contact: Debbie Hancock | Hasbro, Inc. | (401) 727-5401
| debbie.hancock@hasbro.com
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