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PAWTUCKET, R.I. – Hasbro Inc. (NASDAQ:), a global leader in toys and games, announces the appointment of three new members to its Board of Directors. Frank Gibeau, Darin Harris and Owen Mahoney joined the Board last Tuesday, bringing a wealth of experience from the gaming and consumer brands sectors.
Frank Gibeau, currently president of Zynga (NASDAQ:), has more than 30 years of experience in interactive entertainment and has played a pivotal role in Zynga's growth. His prior experience includes a long tenure at Electronic Arts (NASDAQ:), where he held various leadership roles. Darin Harris, CEO of Jack in the Box (NASDAQ:) Inc. since 2020, brings expertise from his time leading multiple franchise operations, including Arby's Restaurant Group and Captain D's Seafood. is bringing about.
Owen Mahoney, who recently retired as President and CEO of Nexon, has a background in corporate finance and strategic alliances, and previously held senior positions at Electronic Arts.
Hasbro Board Chairman Rich Stoddart expressed enthusiasm for the new hires, saying their diverse leadership experience and unique perspectives will help advance the company's strategy and brand value.
In the same announcement, Hasbro revealed that Tracy Lineback, Linda Zecher Higgins, and Michael Burns will retire from the company's board of directors at the company's 2024 annual meeting. CEO Chris Cox acknowledged their significant contributions to Hasbro's direction. In addition, Alan Hassenfeld will step down as chairman emeritus, but will maintain his relationship with Hasbro and focus on philanthropy.
This board change comes as Hasbro continues to evolve its priorities by focusing on play and leveraging its strengths in gaming. Known for brands such as Magic: The Gathering, Dungeons & Dragons, and NERF, the company aims to connect generations of fans through storytelling and play.
This news comes from a recent press release statement by Hasbro, Inc.
Investment Pro Insights
As Hasbro Inc. (NASDAQ:HAS) welcomes new board members to guide the company's strategic direction, its financials paint a mixed picture, according to data from InvestingPro. Although the company has a huge market capitalization of $7.61 billion, it suffers from a negative P/E ratio of -5.11, indicating investors' concerns about profitability. Despite this, Hasbro's commitment to shareholder returns remains unwavering, with a dividend yield of an impressive 5.11%, a testament to the company's 44-year history of consistently paying dividends. Yes, this is an Investing Pro tip that highlights Hasbro's dedication to investors.
InvestingPro's data also reveals a 14.57% decline in revenue over the past 12 months as of Q4 2023, which is in line with analyst expectations for a decline in sales this fiscal year. This is another tip from InvestingPro. Nevertheless, the company's gross profit margin remains high at 48.37%, supporting its ability to maintain profitability in its core business. Additionally, with its next earnings date scheduled for April 23, 2024, investors and analysts alike will be focused on how Hasbro's new leadership and strategic initiatives will impact its financial performance. Probably.
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