Pawtucket-based Hasbro Inc., the world’s No. 2 toy maker, gave Chief Executive Officer Alan Hassenfeld a bonus of $915,000 last year, the first in three years, after the company’s operating results improved.
Hassenfeld’s salary remained unchanged at $1.01 million, Hasbro, maker of Transformers and Trivial Pursuit cards, said in a filing with the Securities and Exchange Commission. President and Chief Operating Officer Alfred Verrecchia also got a $605,000 bonus, his first in three years.
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Excluding costs to reflect an accounting change, the company said it had a profit last year. It had a loss in 2000, the first in more than a decade, after demand for Pokemon trading cards peaked. Hassenfeld has cut jobs, lowered inventory and debt and focused on more traditional lines such as G.I. Joe action figures and Play-Doh to boost sales.
Hasbro had a net loss of $170.7 million, or 98 cents a share, on sales of $2.8 billion last year.
Bloomberg News
