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Hasbro Slips as CEO Takes Medical Leave With Immediate Effect By Investing.com


© Reuters.

By Dhirendra Tripathi

Investing.com – Hasbro stock (NASDAQ:) traded 1.2% lower in Monday’s premarket as its Chief Executive Officer Brian Goldner went on a leave with immediate effect for health reasons.

Goldner was taking leave from the company for health reasons. The reason for this is based on Goldner’s August 2020 admission that he needed continued medical treatment after being diagnosed with cancer in 2014.

Rich Stoddart, most recently the Lead Independent Director of Hasbro’s board, has been appointed as Interim CEO.

Goldner was a Hasbro employee in 2000. He became the company’s CEO in May 2008.

This was due to a strong demand from the toys and digital-gaming segments. The 54% increase in revenue for the second quarter of this year brought it up to $1.32 Billion.

Wizards of the Coast’s and the gaming revenue segment more than doubled during the second quarter, surpassing 2019 figures. This was led by Dungeons & Dragons, Duel Masters, as well as the launch of Foosketball. 

In July, the company stated that it expected double-digit revenue growth in full year. This company is just one of many in the United States facing unique challenges shipping products to China at peak holidays.

 

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.