Wouldn't it be fun to run a company that has accomplished what so many set out to do – leverage strong existing brands to generate new revenue streams?
While it's not the only reason, Hasbro Inc.'s success at executing on that business approach certainly contributes to Chairman, CEO and President Brian Goldner's ear-to-ear grin on the cover of this week's Providence Business News. Packing toys for disadvantaged children also might have something to do with it.
Mr. Goldner, who led the company to record profit of $446.9 million in 2015, has accelerated the trajectory of Hasbro from a toymaker to what his predecessor, Alfred J. Verrecchia said is a "global brand and entertainment company."
The company started the transformation under Mr. Verrecchia, who took over as president in 2000, when Hasbro posted a loss of $144.6 million.
Mr. Goldner's tenure has resulted in a powerhouse lineup of movies, starting with the "Transformers" franchise, whose four films have grossed roughly $3.77 billion worldwide. The company looks at digital gaming as a growth area, along with television programming.
Still, some things don't change. Three old-school Hasbro toys – the Disney My Time Singing Elena of Avalor Doll, the FurReal Friends Torch My Blazin' Dragon Pet, and the Speak Out Game – were named to Toy Insider's Hot 20 List for Christmas 2016.
No doubt Hasbro will continue to touch children of all ages with toys, games, movies and digital gaming for years to come. It's all part of the plan. •