Hasbro And Shareholder Dispute Continues Ahead Of Annual Meeting

Both Hasbro, parent company of WotC and Magic: The Gathering, and Alta Fox Capital Management continue to court investors and shareholders ahead of the June 8 annual meeting

In February, Alta Fox Capital Management, an alternative asset management firm with a 2.5% stake in Hasbro, issued a letter to shareholders with a request to add new members to the Board of Directors. The company’s original stated goal was to nominate five new members, including at that time Magic: The Gathering Hall of Famer, Jon Finkel, and reverse “underperformance” by spinning off Wizards of the Coast (WotC).

Hasbro, the parent company of WotC, has rejected recommendations from the firm. Over the past few months, Hasbro and Alta Fox have issued several statements and resources, urging shareholders to vote for the respective nominees and plans.

This week, Hasbro again issued another letter to its shareholders urging them to vote for all of their own nominees, prompting a response from Alta Fox.

Hasbro’s letter included a presentation and plan, with videos from Chief Executive Officer and board member, Chris Cocks, and another from Chair of the Board, Richard S. Stoddart, explaining the strategic plan and expertise of their own nominees.

Statement from Hasbro Chief Executive Officer, Chris Cocks
Statement from Hasbro Chair of the Board, Richard S. Stoddart

The response from Alta Fox to investors states there is an “urgent” need for boardroom change, and that the current board “continues to assume no real accountability.”

Source: Business Wire

Hasbro’s Nominees for Directors

Rich Stoddart – “Chair of the Board of Directors of Hasbro, brings extensive experience in the advertising, marketing and communications industries, including in television, digital, social media, point-of-sale, packaging and print; global operations; and building global brands and businesses.”

Lisa Gersh – “a seasoned and proven public company executive with a wealth of experience building and leading brand-driven businesses as well as strong knowledge of digital media, entertainment, traditional and direct to consumer retail and integrated marketing.”

Edward “Ted” Philip – “significant knowledge of digital and technology-focused industries, as well as broad operational and financial leadership experience at multinational corporations.”

Alta Fox’s Nominees For Directors

Marcelo Fischer – “a capital allocation expert with a proven track record of value creation would be invaluable to the Board’s assessment of capital deployment initiatives. Under Mr. Fischer’s leadership and inclusive of all spin-offs, IDT (NYSE: IDT) has compounded shareholder value at 25% a year compared to the S&P 500 at less than 10% a year.”

Carolyn Johnson – “extensive experience in business transformation, corporate governance and strategic planning that will be necessary for improving disclosures and enhancing Board and management accountability. Under Ms. Johnson’s guidance on the Board, Majesco (formerly NASDAQ: MJCO) achieved an annualized total shareholder return of 84% compared to the S&P 500’s annualized return of 12%.”

Rani Hublou – “strategic planning expertise and supply chain knowledge necessary to help Hasbro regain market share and improve its growth strategy.”


To view the resources and statements directly from both Hasbro and Alta Fox Capital Management, please visit the following websites:

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