PAWTUCKET – The top executive at Hasbro Inc., Brian D. Goldner, realized a 2.5 percent pay increase in 2016 totaling $10.5 million.
The 53-year-old CEO and chairman of the Pawtucket entertainment company joined Hasbro in 2008. Goldner’s total compensation grew $256,255 compared with the prior year. His base salary fell $50,000 to $1.3 million, offset by a $130,161 increase in his pension and nonqualified deferred compensation earnings.
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Goldner’s stock awards fell 9.9 percent to $2.6 million while his option awards grew $138,802 to $2.2 million. His nonequity incentive plan compensation totaled $3.9 million.
Hasbro ties part of its executive compensation to company performance and part to fixed compensation and benefits. The company reached $5 billion in revenue for the first time in its 94-year history last year. Profit grew 19.3 percent to $533.2 million compared with the prior year.
“Over the last 10 years, Hasbro has redefined itself as a global organization creating the world’s best play experiences,” Goldner and Basil L. Anderson, lead independent director on the board of directors, wrote in a letter to stockholders. “We are pleased with the results of these efforts in 2016, and are working to unlock the full potential of Hasbro in future years.”
Goldner’s pay increase comes after two consecutive years of deep cuts to his compensation package. His pay decreased 30 percent in 2015 and 46.7 percent in 2014, according to federal documents. The cuts were the result of stockholders’ outcry in 2014. A group successfully voted against the company executive pay model.
Stockholders urged the company to put a greater focus on pay-for-performance objectives. The company listened, tweaked its model and last year received 97.4 percent in support of its executive compensation plan.
Stockholders will again vote on compensation at the company’s annual shareholders meeting on May 18 at the company’s headquarters.
The next four highest paid executives include:
- John Frascotti: $3.6 million (president)
- Wiebe Tinga: $3.2 million (executive vice president and chief commercial officer)
- Deborah Thomas: $3 million (executive vice president and chief financial officer)
- Duncan Billing: $2.5 million (executive vice president and chief strategy officer)
