HARGREAVES

PAWTUCKET — It was a day for plaudits and poetry as shareholders gathered yesterday for Hasbro Inc.’s annual meeting.

The meeting, held in the company’s Pawtucket headquarters, served as the formal induction of a new leadership team at the world’s second-largest toymaker and homage to Alfred J. Verrecchia, the 43-year company veteran who became chairman of the Pawtucket toy maker.

As they stood behind lecterns at opposite ends of a podium, Alan G. Hassenfeld, a member of Hasbro’s founding family and the departing company chairman, praised Verrecchia for his steadfast commitment to the company.

“There has been one person, through thick and thin, who has been there for us,” Hassenfeld said, referring to Verrecchia.

Moments later, the two men walked to the middle of the podium, where Hassenfeld handed the man he described as an “adopted Hassenfeld” not a gold watch, but a silver light saber — a joking reference to the Star Wars toys Hasbro produces.

Verrecchia followed with a present of sorts for Hassenfeld as he announced the City of Providence had agreed to name a playground at Roger Williams Park in honor of the East Side resident.

“Now and forever Alan’s name will be affiliated with children, fun and play,” Verrecchia said.

In one of his last duties as chief executive officer, Verrecchia reviewed the company’s financial fortunes for shareholders.

Last year proved a historic one for Hasbro as the company posted record earnings of $333 million on $3.8 billion in revenue.

The company’s stock has been a steady performer for the last several years. Hasbro shares reached an all-time high of $37.19 earlier this month, though the stock finished off slightly yesterday, falling 7 cents to $34.36

“Well I’ve sort of come to that point,” he said, ending his review.

He then turned over the program to Brian Goldner, who replaced him as Hasbro’s chief executive.

A marketing veteran who was most recently the company’s chief executive officer, Goldner becomes the first out-of-stater to lead Hasbro — the nation’s second-largest toy company and producer of such American childhood icons as Transformers, Monopoly and Mr. Potato Head.

Early in yesterday’s meeting Hassenfeld described Goldner as “a dynamic talent and the entire board has confidence in his ability to succeed.”

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.

Goldner also noted that 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 toy maker 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.

“We’re looking forward to continuing our momentum in 2008 and beyond,” Goldner said.

He’ll have help from a realigned management team.

Hasbro yesterday named David Hargreaves chief operating officer, replacing Goldner in that role.

Hargreaves has held a number of executive positions during his nearly 26 years at the Pawtucket toy maker. 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.

Shareholders yesterday approved the full slate of director nominees for Hasbro’s board.

Hassenfeld, who stepped out of the chairman’s role, maintains a seat on the board of directors as head of its executive committee.

In addition to Hassenfeld, Verrecchia and Goldner, the other nominees were: Basil L. Anderson, Alan R. Batkin, Frank J. Biondi Jr., Kenneth A. Bronfin, John M. Connors Jr., Michael W.O. Garrett, E. Gordon Gee, Brian Goldner, Jack M. Greenberg, Edward M. Philip and Paula Stern.

Departing the board yesterday was Claudine Malone.

pgrimald@projo.com