BOSTON — Hasbro Inc. Chairman Alfred J. Verrecchia has joined the board of data and records management firm Iron Mountain Inc., the company announced last week.
Iron Mountain expanded the size of its board from 10 to 11 to make room for Verrecchia.
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“Al brings a broad and deep executive and financial pedigree to our board, having led a highly successful company,” Richard Reese, the board’s executive chairman, said in a statement. “We will benefit from his significant experience at the board level and are honored to have Al join our board of directors.”
Verrecchia received an option that will allow him to buy 2,218 shares of Iron Mountain stock one year from now for $25.53 each, the company said in a Securities & Exchange Commission filing. He will also be entitled to other compensation the company gives non-employee directors.
Iron Mountain’s shareholders include Warren Buffett’s Berkshire Hathaway Inc., which increased its stake in the company last year, according to Bloomberg News.
Verrecchia, 67, will add his new duties at Iron Mountain to an already sizable number of directorships. He is also on the boards of the insurer FM Global and FGX International Holdings Ltd., the Smithfield-based eyewear maker. He previously served on the board of CVS Caremark Corp. from 2004 to 2007.
Verrecchia, a University of Rhode Island graduate, is also chairman of Lifespan Corp., the nonprofit hospital group that is Rhode Island’s largest private employer. And last month, he was confirmed to a four-year term on the board of the R.I. Economic Development Corporation.
Verrecchia first joined Hasbro in 1965 as a staff accountant. He succeeded Alan Hassenfeld as Hasbro’s chairman in May 2008 after serving for five years as the Pawtucket toymaker’s president and CEO.
Additional information is available at ironmountain.com.
