The news reports that some people are waiting in line for weeks to see the new Star Wars movie couldn’t have made Hasbro officials happier, with Star Wars products part of the Pawtucket toy company’s portfolio. It bodes well for a company that finished last year with a strong fourth quarter and an annual net revenue increase of nearly 4 percent. Hasbro has been
among Rhode Island’s marquee companies, but in recent years has eliminated its Rhode Island manufacturing facilities, leaving executive offices, administrative, sales, marketing and product development offices in three Rhode Island facilities, two in Pawtucket and one in East Providence. The company employs 10,000 worldwide, with only 60 percent of those in the United States.
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Stock Information
Exchange: AMEX
Symbol: HAS
Annual meeting: May 12, 1999
Shares of common stock outstanding as of March 19, 1999: 195,889,550
Stock price as of Monday, April 12, 1999: $30.25
Market value as of Monday, April 12, 1999: $15,925,658,887
12-month high stock price: $30.38
12-month low stock price: $18.63
Operating Results
(Amounts in thousands, except per share data)
For the years ending Dec. 31 1998 1997 1996
Net Revenues: $3,304,454 $3,188,559 $3,002,370
Net Earnings: 206,365 134,986 199,912
Earnings per share: 1.04 .70 1.02
Total assets: 3,793,845 2,899,717 2,701,509
Long term debt: 407,180 — 149,382
Directors
Name and title Director since Number of shares held
Herbert M. Baum, 62
Chief Operating Officer of the company 1999 1,500
E. Gordon Gee, 55
President, Brown University Nominee —
Sylvia K. Hassenfeld, 78
Former chairman of the board of Jewish Joint
Distribution Committee Inc. 1983 1,083,734
Norman T. Pace, 77
President, Paper Analytics Associates 1992 20,056
E. John Rosenwald, Jr, 69
Vice chairman, The Bear Stearns Companies, Inc. 1983 226,450
Alfred J. Verrecchia, 56
Executive vice president of the
company, global operations and development 1992 1,015,502
Alan R. Batkin, 54
Vice chairman, Kissinger Associates 1992 25,210
Harold P. Gordon, 61
Vice chairman of the company 1988 418,259
Alex Grass, 71
Chairman of the executive committee,
Rite Aid Corp. 1981 48,711
Alan G. Hassenfeld, 50
Chairman of the board and
chief executive officer 1978 18,393,983
Marie-Josee Kravis, 49
Senior Fellow, Hudson Institute 1995 8,895
Morris W. Offit, 62
Chairman of the Board,
Chief executive officer, Offitbank 1995 8,895
Carl Spielvogel, 70
Chairman and chief executive officer,
Carl Spielvogel Associates, Inc. 1992 56,386
Preston Robert Tisch, 72
Co-chairman of the board, Loews Corp. 1988 16,318
Paul Wolfowitz 55
Dean, Paul H. Nitze School of Advanced
International Studies, The Johns Hopkins University 1995 14,039
Directors’ fees
Non-employee directors are paid a retainer of $25,500 per year, and a fee of $1,000 per Board or committee meeting attended, except that if two or more of such meetings are held on the same day, the fee for the first meeting is $1,000 and the fee for each additional meeting is $500. The Chair of the Audit Committee and the Chair of the Compensation and Stock Option Committee each receive an additional retainer of $3,500 per year.
Significant Stock Ownership
Alan G. Hassenfield, Pawtucket, RI, 18,393,983; George W. Lucas, c/o LucasFilm Ltd., Nicasio, CA, 15,750,000; Capital Guardian Trust Co., Los Angeles, CA, 10,558,920.
Executive Compensation
Fiscal Year 1998 1997
Alan G. Hassenfeld, chairman and chief executive officer $1,470,000 $1,713,159
Alfred J. Verrecchia, executive vice president, global operations $1,194,052 $997,484
Harold P. Gordon, vice chairman $803,928 $874,426
John T. O’Neill, executive vice president and chief financial officer $744,586 $734,773
Adam Klein, executive v.p. and pres., global marketing $690,060 $645,510
Besides their 1998 salaries and bonuses, each individual listed under executive compensation individuals exercised options in the amounts of: Hassenfeld, $1,728,379; Verrecchia, $2,837,198; Gordon, $557,582; O’Neill, $1,501,508; and Klein, $226,636.
*Executive compensation includes salary, bonuses and other annual compensation
Source: Proxy statement, annual report and quarterly reports.
