Former Hasbro CEO Alan Hassenfeld dead at 76 – Business News
Alan G. Hassenfeld, a famend philanthropist and former CEO of iconic toy company Hasbro Inc., the maker of G.I. Joe and Play-Doh, has died. (*76*) was 76, in response to the toy company.
Hasbro, the nation’s second largest toy company behind Mattel primarily based on annual gross sales, declined to offer more particulars. Hassenfeld’s household basis, Hassenfeld Family Initiatives, wasn’t instantly out there to remark.
Hassenfeld was born in Providence, RI, and graduated from Deerfield Academy in Massachusetts. (*76*) acquired an undergraduate arts degree from the University of Pennsylvania in 1970.
Alan, Hassenfeld, who died at age 76, rose rapidly within the household business serving as particular assistant to the president and labored his approach up the ranks. Getty Images
Upon commencement, he joined the Pawtucket, RI-based household business in 1970. Hasbro was based in 1923, by Hassenfeld’s grandfather, Henry. Known initially as Hassenfeld Brothers, it bought textile remnants however expanded into college provides and later toy manufacturing underneath the Hasbro title within the Nineteen Forties, in response to Hasbro’s web site. It went public in 1968.
Hassenfeld rose rapidly within the household business serving as particular assistant to the president and labored his approach up the ranks. (*76*) turned one of the important thing architects of Hasbro’s worldwide operations and spent intensive time touring abroad. (*76*) was named government vice president in 1980 and have become president in September 1984.
Hassenfeld labored for years within the shadow of his older brother Stephen. His brother’s death of pneumonia in June 1989 at age 47, nonetheless, moved Hassenfeld into the place of chairman and chief government officer.
Hassenfeld stepped down as CEO in 2003 and in August 2005, he retired from his chairman place and have become emeritus chairman. (*76*) stepped away from that position final yr. Hassenfeld was the final member of the family to sit down on the board, in response to Hasbro.
Hassenfeld stepped down as CEO in 2003. Corbis through Getty Images
“All of us who have ever had any connection to Hasbro today are mourning the profound loss of Alan Hassenfeld, our beloved former Chairman & CEO, mentor, and dear friend, ” Hasbro CEO Chris Cocks in an e-mailed assertion to The Associated Press.
“Alan’s enormous heart was, and will remain, the guiding force behind Hasbro — compassionate, imaginative, and dedicated to bringing a smile to the face of every child around the world. His tireless advocacy for philanthropy, children’s welfare, and the toy industry created a legacy that will inspire us always.”
Hassenfeld was concerned in lots of charitable and social causes each nationally and domestically in Rhode Island. His issues ranged from childhood starvation to points involving refugee settlement within the state.
Hassenfeld was concerned in lots of charitable and social causes each nationally and domestically in Rhode Island. Richard Howard/The LIFE Picture Collection/Shutterstock
As chairman of the Hassenfeld Family Initiatives, he oversaw the inspiration’s mission of globalizing security and human rights within the world of youngsters’s merchandise; empowering girls in developing international locations; and enhancing the financial system, schooling and business alternatives in Rhode Island.
Hassenfeld was additionally founding benefactor of Hasbro Children’s Hospital in Providence, and his household’s contributions helped to ascertain the Hassenfeld Child Health Innovation Institute at Brown University.
