Hasbro 2012 Annual Report Download - page 6

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on building Hasbro’s new business pipeline, identifying
opportunities for long-term growth and fostering
relationships with not only our current partners, but with
new partners as well. David will continue to be a critically
important member of our senior management team.
We are also very pleased to appoint Wiebe Tinga,
a 25-year veteran of Hasbro, in the newly-created role of
Executive Vice President and Chief Commercial Ocer.
In this position, Wiebe is responsible for the leadership of
all commercial activities in North America, Europe, Latin
America and Asia Pacific. Prior to this appointment, Wiebe
was President of North America, and has previously served
as Hasbro’s President, Latin America, Asia Pacific and
Emerging Markets and General Manager of Hasbro’s Northern
and Central European Region. Over the past year, Wiebe’s
leadership helped return our U.S. and Canada segment to
historical levels of operating profit.
Hasbro is only as strong as the team we have globally
and we are proud of the talented, passionate people we have
around the world. In early 2013, for the third year in a row, we
were named to Fortune Magazine’s “100 Best Companies to
Work For.” This recognition is a terrific reflection of the culture
and community we aspire to at Hasbro.
Playing Responsibly
At Hasbro, our passion for fulfilling the fundamental human
need for play goes hand in hand with playing responsibly
– for our company, our consumers, and our world. We are
committed to playing fair, making safe products and being
socially and environmentally responsible. We believe it will
be the companies that recognize, systematically address
and sustain strong corporate social responsibility (CSR)
practices, and view such practices as a strategic imperative,
that will enjoy the greatest success today and well into the
future.
We have made great strides in our CSR eorts and
continue our momentum to design more environmentally
sustainable packaging. In 2012, we announced our
commitment to reduce product packaging materials for
many of our popular brands and products by improving
the average product-to-package ratio beginning that year.
Beginning in 2013, we will eliminate PVC from new core
toy and game packaging. These packaging improvements
are the most recent eorts in a long series of sustainable
packaging initiatives we have undertaken over the past
years, all of which are designed to minimize the impact on
our natural resources.
We are honored to be the recipient of several prestigious
recognitions, including being named on Ethisphere’s “World’s
Most Ethical Companies” list in 2012 and 2013; ranking #23
on Corporate Responsibility’s 2012 “100 Best Corporate
Citizens” list; ranking #10 on Bloomberg News’ “The Civic
50” list; and receiving the U.S. EPA’s Climate Leadership
Award for Excellence in Greenhouse Gas Management Goal
Achievement.
Importantly, Hasbro also has a long and proud tradition
of supporting children worldwide through a variety of
philanthropic programs, and this past year was no dierent.
In 2012, Hasbro contributed over $14 million in philanthropic
support through the Hasbro Children’s Fund and our Gift of
Play product donation program to more than three million
children worldwide from Beijing, China to Pawtucket, RI.
Additionally, our Team Hasbro employees volunteered more
than 20,000 hours of talent and expertise during the year,
rearming that, at Hasbro, every day, we strive to use our
global assets to empower childhood for those who need us
most.
Looking Forward
In 2013, Hasbro is celebrating its 90th year. What began as a
small, local textile company in Rhode Island is today a global
leader in branded play with many of the best known brands
in the industry. It is amazing to look back and see all that we
have accomplished since that time, while fully understanding
the scope of opportunities ahead of us.
Together, we look forward to taking the next steps in
our company’s evolution with you.
Brian D. Goldner, President and Chief Executive Ocer Alfred J. Verrecchia, Chairman of the Board
* Net earnings for the full-year 2012 were $336.0 million, or $2.55 per diluted share, versus $385.4 million, or $2.82 per diluted share, in
2011. 2012 net earnings include $47.2 million pre-tax, or $0.26 per diluted share, of restructuring charges. 2012 operating profit margins
as reported were 13.5%. Excluding these charges, net earnings were $370.8 million, or $2.81 per diluted share and operating profit margins
were 14.7%.
The Company’s reported 2011 earnings per diluted share included the impact of a $20.5 million favorable tax adjustment, or $0.15 per
diluted share, and pre-tax expense of $14.4 million, or $0.07 per diluted share, related to costs associated with establishing Hasbro’s
Gaming Center of Excellence in Rhode Island. Earnings per diluted share for 2011 excluding these two items were $2.74.
Hasbro Annual Report 2012