Hasbro’s Goldner received 30% pay decrease in 2015

BRIAN GOLDNER, president and CEO of Hasbro Inc., last year received a 30 percent pay drop to his total compensation package, largely because of a sharp decrease in stock awards.  / BLOOMBERG NEW FILE PHOTO/DANIEL ACKER
BRIAN GOLDNER, president and CEO of Hasbro Inc., last year received a 30 percent pay drop to his total compensation package, largely because of a sharp decrease in stock awards. / BLOOMBERG NEW FILE PHOTO/DANIEL ACKER

PAWTUCKET – Brian Goldner, president and CEO of Hasbro Inc., last year received a 30 percent pay cut to his total compensation package, largely because of a sharp decrease in stock awards.
Goldner, 52, has served as president and CEO of the toy company since 2008 and became chairman of the board in 2015. His total compensation package for 2015 totaled $10.3 million, representing a 30 percent decrease compared with the $14.6 million he received in 2014, according to a federal filing released on Monday.
The CEO’s base salary increased $50,000 to $1.3 million, but he realized a sharp fall in stock awards as he no longer received restricted stock unit grants. Goldner’s stock awards dropped 168.1 percent to $2.9 million compared with $7.7 million in 2014 and $21.6 million in 2013. He received the restricted stock unit grants in the two preceding years.
Goldner’s non-equity incentive plan rose to $3.6 million in 2015 compared with $2.3 million in 2014.
In 2014, following a failed say-on-pay vote, the company and Goldner agreed to amend certain terms in his employment agreement. Shareholders voiced concerns about the structure of his compensation, which topped out at $27.4 million in 2013. The changes, however, appear to have since won favor among shareholders, as 96.7 percent voted in favor of the executive compensation structure last year.
The company delivered record revenues and earnings last year, “despite a significant impact from foreign exchange,” according to an open letter to shareholders. The international company, based in Pawtucket, is known for its seven franchise brands: Little Pet Shop, Magic: The Gathering, Monopoly, My Little Pony, Nerf, Play-Doh and Transformers. It also features Marvel and Star Wars products from The Walt Disney Co. The latter, with the help of the new Star Wars movie and Jurassic World, helped Hasbro deliver 4 percent revenue growth, despite an estimated $395 million negative impact from foreign exchange.
The company posted full-year profit of $446.9 million, or $3.57 per diluted share, compared with $413.3 million, or $3.20 per diluted share, in 2014.
Shareholders will be given an opportunity to cast an advisory vote on the company’s executive compensation plan at its annual meeting scheduled for 11 a.m., May 19, at the company’s corporate offices in Pawtucket. Shareholders of record on March 23 are allowed to vote.
The four next highest-paid executives at Hasbro include:

  • John Frascotti: $2.9 million (president, Hasbro brands)
  • Deborah Thomas: $2.6 million (executive vice president and chief financial officer)
  • Wiebe Tinga: $2.5 million (executive vice president and chief commercial officer)
  • Duncan Billing: $2.3 million (executive vice president, chief global operations and business development officer)

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