Business
Hasbro CEO gets raise of 25 percent
01:00 AM EDT on Wednesday, May 28, 2008

GOLDNER
Brian Goldner got a 25-percent pay raise with his promotion last week to chief executive officer of toymaker Hasbro Inc., the Pawtucket company said yesterday in a federal regulatory filing.
On May 22, Goldner officially replaced Alfred J. Verrecchia as chief executive of the world’s second-largest toy company (HAS:NYSE). Verrecchia gave up the job to become chairman of Hasbro’s board of directors.
Appointed Hasbro’s chief operating officer in 2006, Goldner last year earned $800,000 in addition to other compensation. He will receive $1 million annually under the terms of a three-year contract that expires May 21, 2011. He also will be eligible for a bonus set at 125 percent of that salary for the 2008 fiscal year. Additionally, Hasbro granted Goldner $2 million in restricted stock, which will vest at the end of his contract.
In yesterday’s filing, Hasbro also formally announced that David Hargreaves would take on the duties of chief operating officer, replacing Goldner in that role. The company did not release any information regarding Hargreaves’ compensation
Hargreaves has held a number of executive positions during his nearly 26 years at the Pawtucket toymaker. In addition to COO, he will maintain his role as chief financial officer.
The change comes after the company named a number of people to fill global positions, including: John Frascotti, global chief marketing officer; Duncan Billing, global development officer; and Dolph Johnson, senior vice president for human resources.
The company has made a number of recent moves to position its development and sales efforts in the coming years.
Toys linked to this year’s Iron Man, The Incredible Hulk and Indiana Jones and the Kingdom of the Crystal Skull movies, as well as Star Wars animation, should drive sales through the rest of the year.
The company recently regained the global rights to Trivial Pursuit as it prepares for the debut of a TV game show based on the 25-year-old board game. Trivial Pursuit: America Plays will begin airing later this year.
The company regained ownership of nearly 1,000 episodes of programs featuring its toys, including G.I. Joe, Transformers and My Little Pony. Hasbro bought board-game maker Cranium Inc. for $77.5 million in January.
Last August, the toymaker said it signed a license with Electronic Arts Inc. to make video, cell phone and other digital games for its Yahtzee, Scrabble and Tonka brands.
The company also has a five-year licensing agreement with Marvel Entertainment Inc.
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