Wizards of the Coast President Chris Cocks has been appointed Chief Executive Officer of parent Hasbro, and will join the Board of Directors, the company announced after the close on Wednesday. Cocks will take his new position on February 25, replacing Interim CEO Rich Stoddart, who was appointed after the October death of longtime Hasbro CEO Brian Goldner. Stoddart will become Chairman of the Board.
Somebody’s apparently been paying attention as WotC’s growth and profitability have been dominating Hasbro’s numbers (see “’Magic’ Sales Beat 2020 Numbers in Three Quarters”). In Q1 2021, the WotC segment accounted for 75% of Hasbro’s total profits (see “WotC Segment 75% of Hasbro Profits in Q1”).
The video game background of Cocks, who took over at WotC from Greg Leeds in 2016 (see “Leeds Replaced by Microsoft Exec”) may have also been appealing to the board, which is looking to expand exploitation of its properties in gaming and entertainment.
“Chris’s extensive omni-channel experience and proven track record make him the ideal leader for Hasbro as it continues to become the world’s leading play and entertainment company,” current Hasbro Board Chair Tracy Leinbach said of the appointment.
“A storyteller and gamer at heart, Chris innately understands how to create and nurture brands to drive fan and consumer connection across channels,” Stoddart said of Cocks.
In related news, Eric Numan, current Hasbro Chief Consumer Officer and COO of Hasbro Consumer Products will become Hasbro President and Chief Operating Officer.
A new president for Wizards of the Coast will be named in the coming weeks, the company said in its announcement.
Source: ICV2
