Hasbro Inc. has chosen Wizards of the Coast and digital gaming division leader Chris Cocks as its next chief executive officer, saying he will take the helm Feb. 25 after the death of CEO Brian Goldner in October, according to a Wednesday (Jan. 5) announcement.
Cocks, 48, came to Hasbro in 2016 to lead the division best known for the Magic: The Gathering card game and Dungeons & Dragons after a stint as a Microsoft executive. During his tenure as digital gaming president and operating chief, he helped the unit double its revenue to more than $1 billion in 2021.
Goldner died days after taking a leave of absence in October for medical reasons after battling prostate cancer since 2014. He joined Hasbro in 2000, became CEO in 2008 and became chairman of the company’s board since 2015, a report in The Wall Street Journal noted.
Cocks will look to follow in Goldner’s footsteps by focusing on developing story lines across Hasbro’s brands to drive sales of toys, games and other merchandise.
“Hasbro has amazing brands, gifted storytellers and unique entertainment assets, and I am humbled to step into the position of CEO at this important time and to build on the strong foundation Brian created,” Cocks said in the announcement.
After Goldner’s death, Hasbro named board member Rich Stoddart as interim CEO. Stoddart will become chairman of the Hasbro board of directors when Cocks takes the reins next month. The company will also promote chief consumer officer Eric Nyman to president and chief operating officer. The company will name a new leader for Wizards of the Coast in the next several weeks.
Related: Hasbro Had $100M of Undelivered Product in Q3
In October, Stoddart told analysts on a conference call that the company’s “My Little Pony” feature film, released on Netflix in September, was an example of the Rhode Island company’s “omnichannel storytelling opportunity.”
Each of Hasbro’s 200 TV and film projects under development, including content for 30 Hasbro brands in the coming years, the company intends to have “a robust content roadmap,” he said.
Hasbro’s third-quarter revenues were up 11% year over year to $1.97 billion, with the entertainment segment up 76% and digital gaming revenue up 32%. Consumer products fell 3% in Q3, largely because of $100 million of products that had been ordered but weren’t delivered.
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