Hasbro 2014 Annual Report Download - page 10

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1 Reported 2014 operating profit increased 36%. 2014 adjusted operating profit excludes a $2.3 million royalty credit and $6.1 million charge associated with
restructuring. 2013 adjusted operating profit excludes charges of $36.7 million associated with restructuring, $7.0 million of related pension costs, $61.1 million associated
with the settlement of an adverse arbitration award and $40.6 million of charges related to certain non-strategic brands.
2 The NPD Group/Retail Tracking Service/Dollars. Games excluding Strategic Trading Card Games.
3 U.S., U.K., France, Germany, Spain, Italy, Poland; The NPD Group/Retail Tracking Service. Entertainment as defined by Hasbro.
Brian D. Goldner, President and Chief Executive Ocer Alfred J. Verrecchia, Chairman of the Board
ANNUAL REPORT
President and Chief Executive Ocer of Houghton Miin Harcourt Company. Richard, Michael and Linda bring
tremendous leadership and relevant expertise to our Board.
At the same time, we are saying good-bye to several significant contributors to Hasbro’s success. Al
Verrecchia, Chairman of Hasbro and previously our President and CEO, is retiring from the Board of Directors in
May after 50 years with the Company. Additionally, after 32 years, David Hargreaves, most recently Chief Strategy
Ocer but previously Hasbro’s Chief Operating Ocer and, prior to that, our Chief Financial Ocer, retired
in February 2015. It is impossible to eectively sum up the many contributions Al and David have made to our
Company, but it is clear they will be missed. We wish them tremendous success in their retirement.
Finally, at this year’s annual meeting, primarily due to the attainment of retirement age, several other current
Board members will not be standing for re-election. Frank Biondi, Jr., Jack Connors, Jr., Michael Garrett and Jack
Greenberg will end their service with Hasbro. We thank each of them for their tremendous contributions and
guidance during their time with Hasbro.
Creating the World’s Best Play Experiences
We know that, to Create the World’s Best Play Experiences, we have to
enthrall, delight and entice our consumers to connect, engage and spend
more time with our brands. With a laser focus on our consumers and a vision
for the future, we continue to eliminate behaviors that no longer support
the Company that we are becoming. We continue to redeploy and redirect
resources where we need to in order to deliver value for our brands, our
company and our shareholders, both now and in the future. We will strive to
be the first choice for customers, consumers and partners globally.
Informed by the tens of thousands of conversations we have with our
global consumers annually, our Brand Blueprint continues to serve as the
strategic roadmap for unlocking the value in our brands and our company,
to ultimately deliver superior long-term returns for our shareholders.
Thank you for your continued support and belief in the Hasbro team and
the opportunities ahead for our company.
Sincerely,