Alan G. Hassenfeld, former CEO of Hasbro Inc. and beloved philanthropist, has died.
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Hassenfeld, originally from Providence, Rhode Island, passed away in his sleep in London. His death was confirmed by Alfred Verrecchia, who succeeded him as Hasbro CEO in 2003, according to the Providence outlet WPRI.
No cause of death was provided. He was 76.
Hassenfeld graduated from Deerfield Academy in Massachusetts and earned an arts degree from the University of Pennsylvania in 1970. That same year, he joined his family’s business in Pawtucket, Rhode Island.
Hasbro traces its origins back to 1923 when it was founded by Henry Hassenfeld, the grandfather of the company’s current leadership. Originally named Hassenfeld Brothers, the business began by selling textile remnants before branching out into school supplies. In the 1940s, it transitioned into toy manufacturing and adopted the Hasbro name. According to Hasbro’s official website, the company went public in 1968.
Hassenfeld quickly advanced in the family business, starting as special assistant to the president and rising through the ranks. He played a key role in building Hasbro’s international operations, spending significant time abroad. He became executive vice president in 1980 and president in September 1984.
For years, he worked under the shadow of his older brother, Stephen. However, following Stephen’s untimely passing from pneumonia in June 1989 at the age of 47, he stepped into the role of chairman and CEO.
Alan G. Hassenfeld Stepped Down as Hasbro’s CEO in 2003
Hassenfeld stepped down as CEO in 2003 and retired as chairman in August 2005, transitioning to the role of chairman emeritus. He officially stepped away from that position last year. According to Hasbro, he was the final family member to serve on the company’s board.
Meanwhile, Hassenfeld supported various charitable and social causes both nationally and in Rhode Island. His work focused on issues like childhood hunger and refugee settlement. As chairman of the Hassenfeld Family Initiatives, he led efforts to improve safety in children’s products, support women in developing countries, and strengthen Rhode Island’s economy, education, and business opportunities.
Hassenfeld played a pivotal role as the founding benefactor of Hasbro Children’s Hospital in Providence. His family’s generous contributions also led to the creation of the Hassenfeld Child Health Innovation Institute at Brown University.