Hasbro Names Chris Cocks CEO Following Death of Longtime Head Goldner

(Bloomberg) -- Hasbro Inc., the largest U.S. toy company, named Chris Cocks as its new chief executive officer, almost three months after the death of longtime boss Brian Goldner.

The appointment of Cocks, president and chief operating officer of Hasbro's Wizards of the Coast and digital gaming division, is effective Feb. 25, according to a statement Wednesday. He previously worked at Microsoft Corp.

Cocks will replace Rich Stoddart, who took over as interim CEO in October. Stoddart will become chair of Hasbro's board, also effective Feb. 25. Eric Nyman, meanwhile, is being elevated to president and chief operating officer. He is chief operating officer for Hasbro's consumer products unit.

The new leader has some tough shoes to fill. Goldner, who became CEO in 2008, expanded Hasbro's girls and entertainment businesses. Under his direction, the company partnered with movie studios to introduce film versions of toy brands such as G.I. Joe and Battleship. In 2019, Hasbro announced the $4 billion acquisition of Entertainment One, a company best known for its Peppa Pig brand.

Cocks will also face a challenging supply chain, as factories and ports remain stuck with pandemic-related backlogs. Third-quarter revenue from TV shows and films offset delays in delivering toys. The company said in October that it was on track to hit double-digit revenue growth in 2021, however.

“Chris's extensive omni-channel experience and proven track record make him the ideal leader for Hasbro as it continues to become the world's leading play and entertainment company,” Tracy Leinbach, current chair of the board, said in the statement.

Hasbro has more than 6,800 employees and operates in 35 countries. Its revenue in 2020 was almost $5.5 billion.

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