Former CEO of Hasbro and whose family founded the iconic toy maker, dies at 76
NEW YORK (AP) — Alan G. Hassenfeld, a renowned philanthropist and former CEO of iconic toy company Hasbro Inc., the maker of G.I. Joe and Play-Doh, has died. He was 76, according to the toy company.
Hasbro, the nation’s second largest toy company behind Mattel based on annual sales, declined to offer more details. Hassenfeld’s family foundation, Hassenfeld Family Initiatives, wasn’t immediately available to comment.
Hassenfeld was born in Providence, Rhode Island and graduated from Deerfield Academy in Massachusetts. He received an undergraduate arts degree from the University of Pennsylvania in 1970. Upon graduation, he joined the Pawtucket, Rhode Island-based family business in 1970. Hasbro was founded in 1923, by Hassenfeld’s grandfather, Henry. Known initially as Hassenfeld Brothers, it sold textile remnants but expanded into school supplies and later toy manufacturing under the Hasbro name in the 1940s, according to Hasbro’s website. It went public in 1968.
Hassenfeld rose quickly in the family business serving as special assistant to the president and worked his way up the rank s. He became one of the key architects of Hasbro’s international operations and spent extensive time traveling overseas. He was named executive vice president in 1980 and became president in September 1984.