Hasbro has also promoted John Frascotti to president and COO, and appointed him to the Board of Directors.
In addition, John Frascotti’s duties have been expanded to add chief operating officer to his current role as company president and he has been appointed to Hasbro’s Board of Directors. Hasbro has entered an employment agreement with John reflecting these new roles.
Ted Philip, Hasbro’s lead independent director, commented: “Over the past ten years as CEO, Brian has transformed Hasbro. His vision to set a differentiated strategy for the company, including investing in new capabilities and establishing a new culture, has dramatically increased shareholder value. John has been integral in this success. Joining Hasbro ten years ago, his tremendous leadership and foresight has developed Hasbro’s global brand portfolio and teams into industry leaders. He will bring these same skills and insight to Hasbro’s board. Brian and John are leading a best-in-class organisation recognised globally for its standards of excellence.”
Brian Goldner commented: “With the support of Hasbro’s employees around the world, we have accomplished much over the past ten years, but this company and its talented teams have tremendous opportunity ahead of us. I am inspired every day by the dedication and creativity of our teams and excited to work alongside them for years to come. John is a tremendous asset to Hasbro and his vision for achieving our company’s potential is invaluable to both Hasbro and its board.”
John Frascotti added: “I am honoured to work alongside the tremendous talent here at Hasbro. Brands, and what they stand for, mean more to consumers today than ever before. This is a unique opportunity and privilege. The future we see for Hasbro, for our brands and our teams, motivates me every day to develop amazing experiences for Hasbro consumers around the world.”