PAWTUCKET – Hasbro Inc. on Wednesday appointed Gina Goetter as its new chief financial officer.
She succeeds Deborah A. Thomas, who announced in November that she was retiring after 24 years with Hasbro. Thomas, however, will stay on with the Pawtucket-based toy company in an advisory role, according to a news release.
Facing the Holidays with a Cancer Diagnosis
The holidays are often painted as a time of joy, tradition, and togetherness. But for…
Learn More
Goetter will step in to her new position on May 18, following the company’s annual meeting of shareholders.
“Over the course of her impressive 25 years at Hasbro, Deb has been a key player in our journey to grow Hasbro into the global leader it is today,” Rich Stoddart, chairman of Hasbro’s board of directors, said in a statement. “In addition to having played a major role in Hasbro’s expansion in markets around the world, Deb has been a critical advisor to Hasbro’s Board of Directors over the past two decades and a mentor and friend to legions of Hasbro employees. Deb is a tremendous leader and deeply respected colleague, and she will forever be a part of the Hasbro family. I speak for the entire Hasbro team in wishing her and her family the very best in retirement.”
In 2015, Jeff Barkan, senior vice president, business planning and analysis/corporate controller, identified Thomas as an integral contributor to two “seismic changes” initiated by Hasbro. Those changes – evolving from a pure toy and game manufacturer to a global brand builder and experiencing significant growth outside the United States – transformed the company.
He also credited Thomas with initiating processes and systems to support Hasbro’s significant growth in overseas revenue: in 2009, 36% of Hasbro’s revenue was international; in 2014, it had reached 47%. Overall revenue grew as well: in 2009, when Thomas’ tenure as CFO began, net revenue was $4.1 billion. In 2014, the total was $4.3 billion. Thomas has been a vocal advocate for investing in business controls needed to ensure compliance with international rules, regulations and ethical finance practices, while streamlining workflow and improving efficiencies, Barkan added.
Goetter, who has more than 25 years of experience across finance and accounting, previously served as chief financial officer for Harley-Davidson Inc. Prior to joining the motorcycle manufacturer in 2020, Goetter was senior vice president of finance for Tyson Foods’ Prepared Foods Segment, and also spent 21 years at General Mills in a number of increasingly senior finance roles.
Goetter will serve as strategic partner to CEO Chris Cocks in executing the company’s Blueprint 2.0, which includes a focus on fewer, bigger brands; gaming; digital; and the company’s rapidly growing direct to consumer and licensing business, as well as delivering the company’s Operational Excellence program and associated cost savings.
Also on Wednesday, Tim Kilpin was named the company’s president of toy, licensing and entertainment. He joins Hasbro from PlayMonster Group LLC, where he most recently served as executive chairman since January 2023 and as CEO from January 2022.
“We are excited to welcome Tim and Gina to Hasbro,” Cocks said in a statement. “I am confident that their skills and qualifications will complement Hasbro’s existing leadership team as we execute against our Blueprint 2.0 strategy, which is focused on bringing our brands to life for consumers of all ages, maximizing the value of our IP [intellectual property], and creating long-term shareholder value.”
Hasbro posted a $203.5 million profit in 2022, a 53% decline in net earnings from 2021.
Hasbro will report its first-quarter earning of 2023 on April 27.
