Alan Hassenfeld passes away

Alan G. Hassenfeld, the former CEO of toy company Hasbro has passed away. According to Hasbro, he was 76. Hasbro.Did not give further details and Hassenfeld’s  family foundation, Hassenfeld Family Initiatives, was not available for comment..

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 called Hassenfeld Brothers, the company sold textile remnants but expanded into school supplies and later toy manufacturing under the Hasbro name in the 1940s. The company went  public in 1968.

Hassenfeld  serving as special assistant to the president  of Hasbro and worked his way up the rank s. 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.

He worked with his brother Stephen until his brother’s death from  pneumonia in June 1989. At that point, Hassenfeld moved into the position of chairman and chief executive officer.

He stepped down as CEO in 2003 and in August 2005, he retired from his chairman position and became emeritus chairman. He stepped away from that role last year – the last family member to sit on the board.

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.