Hasbro Founder's Family Member Alan G. Hassenfeld Passes Away

Alan G. Hassenfeld, the former CEO of Hasbro Inc., passed away at the age of 76. Hassenfeld, who was the last member of the founding family to sit on the company's board, stepped down from his role as emeritus chairman last year. His family founded the iconic toy company, which is renowned for its popular brands such as G.I. Joe and Play-Doh. Hassenfeld's passing marks the end of an era for Hasbro, as he was the last family member to hold a position on the board, signifying a significant shift in the company's leadership and governance.

Hassenfeld was born in Providence, Rhode Island and graduated from Deerfield Academy in Massachusetts. He received an undergraduate arts degree from the University of Pennsylvania in 1970. Upon graduation, he joined the Pawtucket, Rhode Island-based family business in 1970. Hasbro was founded in 1923, by Hassenfeld’s grandfather, Henry. Known initially as Hassenfeld Brothers, it sold textile remnants but expanded into school supplies and later toy manufacturing under the Hasbro name in the 1940s. It went public in 1968.

Hassenfeld rose quickly in the family business serving as special assistant to the president and worked his way up the ranks. He became one of the key architects of Hasbro’s international operations and spent extensive time traveling overseas. He was named executive vice president in 1980 and became president in September 1984. Hassenfeld labored for years in the shadow of his older brother Stephen. His brother’s death of pneumonia in June 1989 at age 47, however, moved Hassenfeld into the position of chairman and chief executive officer. Hassenfeld stepped down as CEO in 2003 and in August 2005, he retired from his chairman position and became emeritus chairman.

Hassenfeld's career at Hasbro spanned several decades, during which he played a pivotal role in shaping the company's growth and success. His leadership was instrumental in expanding Hasbro's product portfolio and establishing it as a global leader in the toy industry. Under his guidance, Hasbro introduced numerous innovative products that captivated children and adults alike, cementing the company's reputation for creativity and quality.

Beyond his professional achievements, Hassenfeld was also recognized for his philanthropic endeavors. He was a renowned philanthropist, known for his generous contributions to various charitable causes. His concerns ranged from childhood hunger to issues involving refugee settlement in the state. As chairman of the Hassenfeld Family Initiatives, he oversaw the foundation’s mission of globalizing safety and human rights within the area of children’s products; empowering women in developing countries; and enhancing the economy, education and business opportunities in Rhode Island. Hassenfeld was also founding benefactor of Hasbro Children’s Hospital in Providence, and his family’s contributions helped to establish the Hassenfeld Child Health Innovation Institute at Brown University.

Hassenfeld's commitment to giving back to the community reflected his deep sense of responsibility and dedication to making a positive impact on society. His legacy as a philanthropist will continue to inspire future generations to engage in meaningful charitable work. The news of Hassenfeld's passing has been met with an outpouring of tributes from colleagues, industry peers, and admirers who recognized his significant contributions to both Hasbro and the broader community. His leadership and vision will be remembered as a cornerstone of Hasbro's success, and his philanthropic efforts will continue to inspire and benefit many.