Hasbro has extended CEO Brian Goldner‘s employment agreement for another two years while promoting Chief Operating Officer John Frascotti to the Board of Directors.
Mr. Goldner is a monumental figure for Hasbro’s success in modern times; which began with the first Transformers Live Action Movie back in 2007. Since then, Hasbro has expanded from a toy company to ‘a branded play company’ where it currently houses several studios for film and animation based on Hasbro brands.
John Frascotti followed Brian’s footsteps and helped to introduce Transformers and My Little Pony to the modern audience.
“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,” said Ted Philip, Hasbro’s lead independent director. “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 organization recognized globally for its standards of excellence.”
We congratulate both of them and wish for a successful career ahead.
You can check out the full press release, after the jump.
Hasbro Extends Employment Agreement for Chairman and CEO, Brian Goldner; Promotes John Frascotti to President and COO and Appoints Mr. Frascotti to the Board
Brian Goldner’s Contract Extended Two Years, Through 2022
John Frascotti Adds Chief Operating Officer Title and is Appointed to Hasbro’s Board of Directors
PAWTUCKET, R.I.–(BUSINESS WIRE)–Hasbro, Inc. (NASDAQ: HAS) today announced the Board of Directors has extended the employment agreement of Hasbro’s Chairman and CEO, Brian Goldner, two additional years through December 31, 2022. In addition, John Frascotti’s duties were expanded to add Chief Operating Officer to his current role as Company President and Mr. Frascotti was appointed to Hasbro’s Board of Directors. Hasbro entered an employment agreement with Mr. Frascotti reflecting these new roles.
“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,” said Ted Philip, Hasbro’s lead independent director. “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 organization recognized globally for its standards of excellence.”
“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,” said Brian Goldner, Hasbro’s chairman and chief executive officer. “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.”
“I am honored to work alongside the tremendous talent here at Hasbro,” said John Frascotti, Hasbro’s president and chief operating officer. “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.”
Mr. Goldner joined Hasbro in 2000. He was appointed CEO in 2008 and Chairman of the Board in 2015. He held several prior leadership positions at Hasbro, including COO from 2006 to 2008. Mr. Goldner serves on the board of directors for Gap Inc. and is a member of the Producers Guild of America.
Mr. Frascotti was named President of Hasbro in February 2017. He joined the Company in 2008 as Chief Marketing Officer and in 2014 became President of Hasbro Brands. Mr. Frascotti is a member of the Board of Directors of Corus Entertainment in Toronto, Canada, and was recognized in 2014 by Forbes as one of top 5 most influential CMO’s amongst the top 500 companies in Forbes Global 2000 Biggest Public Companies list. He also is a member of the Board of Directors of the Serious Fun Children’s Network, a global network of camps for seriously ill children and Newman’s Own Advisory Board, which provides high-level advice and assistance on strategic matters to both Newman’s Own Foundation and the food company, Newman’s Own, Inc.
Further details on Mr. Goldner’s and Mr. Frascotti’s employment agreements may be found in the Company’s current report on Form 8-K filed today.
About Hasbro:
Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to Creating the World’s Best Play Experiences. From toys and games to television, movies, digital gaming and consumer products, Hasbro offers a variety of ways for audiences to experience its iconic brands, including NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE and MAGIC: THE GATHERING, as well as premier partner brands. Through its entertainment labels, Allspark Pictures and Allspark Animation, the Company is building its brands globally through great storytelling and content on all screens. Hasbro is committed to making the world a better place for children and their families through corporate social responsibility and philanthropy. Hasbro ranked No. 5 on the 2018 100 Best Corporate Citizens list by CR Magazine and has been named one of the World’s Most Ethical Companies® by Ethisphere Institute for the past seven years. Learn more at www.hasbro.com, and follow us on Twitter (@Hasbro & @HasbroNews) and Instagram (@Hasbro).
RKillian
As I recall, the poll for both of them was something to the effect of "choose your favorite food in each of these four groups" followed by "now mash them all together."
So congratulations if you like ice cream Froot Loop pizza served in a cold glass of tomato juice. Vintage 2014 is on sale for 30% off at BBTS.
jackgaughan
It's been 4 years, let it go.
GizmoTron
Why would we assume anyone who voted in the poll wasn't a fan?
While I'm certain not all of the voters were super-fans that could tell you to the exact inch where Optimus' head comes up to Grimlock's shoulder, they were still not corporate Hasbro or the official TF team and by definition fans.
Novaburnhilde
Incorrect. Because anyone was allowed to vote in the poll which resulted in that abomination, there was nothing stopping non-fans from voting. We can't assume all the people who voted were actually fans, the more accurate descriptor for her and Victorion would be "Poll-built bot". It's almost like using a shitty, poorly defined poll and then taking the results and sowing them together into some horrifically beautiful monstrosity and then constantly pushing them as the next Optimus Prime is not a good idea and a severely awful method of creating new characters.
Yes, her constant exposure is because of her being the end result of that poll. That doesn't mean she's a good character worth keeping around. She and Victorion should be viewed as mistakes, how NOT to make new characters.
Goaliebot
Hasbro stock was under $30 in 2007.
Hasbro stock is around $100 today.
That is how Hasbro and the rest of the world judges these guys. Period. Nothing else matters.
Everything mentioned in this thread so far is inconsequential: toy quality, the movies, how much he does or does not know or care about TFs…
Stock price has tripled while competitors struggled. End of story.
I’m not saying it’s right, I’m not saying it’s wrong. It just is.
Rodimus Prime
I wasn't sure.
GizmoTron
I'd argue Mattel has quite a bit of internally owned fiction to work with, maybe not the same depth in the action figure department but even there they have more than a few things they could have dug up for their own "cinematic universe" like Hasbro seeks to do. They've just never seemed to have anyone like a Goldner in charge with the same Hollywood and television ambitions.
Deadend
That's not fair. They'd still be doing roughly as well. Maybe a few billion less, but not billions below like Mattel. But that's also more complicated on Mattel's part. They don't have as much internally owned fiction to work with.
That'd be telling and it wouldn't be a secret. Though probably is one of the poorest kept secrets in the biz. xD
*Pauses in confusion for a minute.*
Oh that's right. He beat cancer too! Extra congrats to him!
Neko-bot77
A) not actually looking for that flag, just an economic joke.
B) see A
C) Megaempress, who is the Unite Warriors repaint of ….um, whoever the deluxe was in Victorion
lars573
You can't tell that's Megaempress?
MetalStorm
I can confirm that, I have insider info stating that both Hasbro and Paramount have secretly decided that they have made more than enough money. To that end, they decided to sabotage the Bumblebee Movie. They accomplished this by bringing in a talented director, focused more on a simple, yet deeper story, went for better, G1-ish designs, basically trying to make a movie that would speak to both older fans and appeal to newer ones.
They knew we wouldn't stand for trying to make the movies good, because then we wouldn't have anything to bitch about, and without that our fandom would collapse.
RKillian
He just asks another manager "what's the status of X?" and then that manager passes it down four or five more levels of management until somebody that's actually working finally says "I told you yesterday for the hundredth time this week, stop fucking bothering me so I can get some work done!"
Terradives
Don’t worry about the movie bring a success. They made sure that won’t happen.
Issy543
Given how the brand has been more recognisable since they took office since 2007, I'd say so.
motorthing
Woo and Hoo/Meh.
TacticalBacon
I’m confused. Is this a good or bad thing?
Rodimus Prime
A) That'd fall under politics, so no.
B) Who cares if they make more money than you?
C) Who is that a repaint of in your avatar?
Rodimus Prime
Well, you've convinced me, he's a monster.
GizmoTron
By that same reasoning, what will they do if the movie is a success?
No one here actually knows what Hasbro has planned for the next movie.
Neko-bot77
What I see is someone who is making more money than me getting a job extension, and someone else (also making more than me) getting promoted so he can make even more. Is there a "we are the 99%" flag somewhere I can wave around?
On the semi-related topic of the BB movie; i'm not going to see it in theaters. I know i'll buy it on Blu-Ray anyways, so I'm saving the ticket $ to see a GOOD movie instead. Like the Lego Movie 2, which looks f**kin awesome.