Hasbro CEO Goldner takes medical leave

Stock Markets1 minute ago (Oct 11, 2021 07:50AM ET)

(C) Reuters.

(Reuters) – U.S. toymaker Hasbro Inc (NASDAQ:HAS) said Chairman and Chief Executive Officer Brian Goldner will take immediate medical leave, handing the reins to lead independent director Rich Stoddart on an interim basis.

The move, announced late on Sunday, follows Goldner’s statement last year that he had been under continued medical treatment following his cancer diagnosis in 2014.

Stoddart, the CEO of marketing firm InnerWorkings (NASDAQ:INWK) Inc until last year, takes the position at a time when Hasbro is battling industry-wide supply-chain issues to ensure its toys hit store shelves in time for the pivotal holiday season.

Long-time CEO Goldner’s medical leave is a “big shock” but will likely not impact Hasbro’s ability to execute its strategy of focusing more on boosting its entertainment and licensing business, Jefferies (NYSE:JEF) analysts said in a note.

Other high-profile CEOs that have stepped away from day-to-day management for medical reasons include JPMorgan Chase & Co (NYSE:JPM)’s Jamie Dimon, who had an emergency heart surgery in 2020, and Altria Group (NYSE:MO) Inc’s Howard Willard after he contracted COVID-19 last year.

Apple Inc (NASDAQ:AAPL)’s Steve Jobs had also taken medical leave in 2011 as he battled pancreatic cancer.

Hasbro CEO Goldner takes medical leave

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