In a recent move by Hasbro Inc . (NASDAQ: NASDAQ:HAS), the toy and entertainment company's Board of Directors has been expanded from eleven to fourteen members. As of March 21, 2024, Frank Gibeau, Darin Harris, and Owen Mahoney have been appointed to fill the newly created positions. This decision, recommended by the Nominating, Governance and Social Responsibility Committee, aims to strengthen the board's diversity and expertise.
Additionally, today, the company disclosed the impending retirement of three of its board members. Tracy Leinbach, Linda Zecher Higgins, and Michael Burns will not be standing for re-election at the forthcoming annual meeting of shareholders. Following their departure, the board will return to its previous size of eleven directors.
The addition of new members is seen as a strategic move to infuse new perspectives and experiences into the company's leadership. Frank Gibeau brings a wealth of knowledge from the gaming industry, Darin Harris offers extensive experience in brand management and franchising, and Owen Mahoney adds financial and digital media expertise to the board.
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