Hasbro Inc. HAS -0.58% named Chris Cocks as its chief executive, elevating the head of the toy company’s Wizards of the Coast and digital-gaming division to fill the top job following the death of Brian Goldner in October.
Mr. Cocks, 48 years old, is a former Microsoft Corp. executive who joined Hasbro in 2016 to head up the division best known for the Magic: The Gathering card game and Dungeons & Dragons. As president and operating chief, he pushed the unit more into digital gaming, helping it to double revenue during his tenure to over $1 billion in 2021.
Chris Cocks will assume the CEO role in February.
Photo: Business Wire/Associated Press
Though a relative newcomer and based in Renton, Wash., Mr. Cocks will look to continue the blueprint at Pawtucket, R.I.-based Hasbro established under Mr. Goldner. The strategy focuses on developing strong story lines across the company’s brands, which in turn drives sales of toys, games and other merchandise.
“I am humbled to step into the position of CEO at this important time and to build on the strong foundation Brian created,” said Mr. Cocks, who assumes the role Feb. 25.
The appointment comes as the toy industry has enjoyed a strong run during the pandemic, with parents splurging on toys and games for their children, helped by child-tax-credit payments to families. However, the industry also encountered challenges related to the supply chain, forcing companies like Hasbro to rush to make and ship toys to fill shelves leading up the holiday season.
Mr. Cocks will also lead a company that continues to stretch far beyond physical toys. In addition to expanding into digital games, Hasbro in 2019 acquired the entertainment studio Entertainment One Inc., which produces television shows like “Peppa Pig.”
Mr. Goldner died in October following a long battle with prostate cancer.
The maker of Transformers, Play-Doh and Monopoly named board member Rich Stoddart as interim CEO to see the company through the holiday season.
Mr. Stoddart will become chairman of the board, the company said Wednesday.
Hasbro is also promoting Eric Nyman, 49, to the role of president and chief operating officer, a role that had previously been seen as a steppingstone to CEO at the company. Mr. Nyman had previously held the role of chief consumer officer, as well as operating chief of Hasbro consumer products.
Hasbro plans to name a new head for Wizards of the Coast in the coming weeks.
Shares in Hasbro rose 1.6% in after-hours trading.
Write to Paul Ziobro at [email protected]
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