Alan G. Hassenfeld, a well-regarded philanthropist and former leader of the celebrated toy company Hasbro Inc., has passed away at the age of 76, according to the company. Renowned as the creators of popular toys such as G.I. Joe and Play-Doh, Hasbro did not disclose further details about Hassenfeld’s passing. Efforts to obtain a comment from the family’s philanthropic foundation, Hassenfeld Family Initiatives, were unsuccessful.
Hassenfeld was a native of Providence, Rhode Island, where he was born. He pursued his education at Deerfield Academy in Massachusetts and went on to earn an undergraduate degree in the arts from the University of Pennsylvania in 1970. Following his graduation, he joined Hasbro, a family-owned business located in Pawtucket, Rhode Island, the same year. Initially established in 1923 by Hassenfeld’s grandfather, Henry, the company began as Hassenfeld Brothers, making its name in the textile industry before venturing into school supplies and eventually toys in the 1940s, adopting the Hasbro name. The company saw its public offering in 1968.
Rising swiftly through the company ranks, Hassenfeld started as a special assistant to the president. He became pivotal in developing Hasbro’s international business, which involved extensive overseas travel. By 1980, Hassenfeld held the position of executive vice president, assuming the presidency in September 1984.
For years, Hassenfeld worked alongside his elder brother Stephen, until Stephen’s untimely death from pneumonia in June 1989 at the age of 47. Hassenfeld subsequently assumed the roles of chairman and chief executive officer.
His tenure as CEO lasted until 2003, and he retired from the chairman position in August 2005, becoming emeritus chairman, a role he held until last year. Hassenfeld was the final family member to be part of Hasbro’s board.
In an emailed statement, Hasbro’s current CEO, Chris Cocks, reflected on Hassenfeld’s passing: “Everyone associated with Hasbro mourns the deep loss of Alan Hassenfeld, our cherished former Chairman & CEO, mentor, and friend. Alan’s great heart guided Hasbro’s values, emphasizing compassion, imagination, and a steadfast commitment to bringing joy to children worldwide. His dedication to philanthropy, child welfare, and the toy industry established a legacy that will continue to inspire us all.”
Hassenfeld’s philanthropic efforts were plentiful, encompassing numerous social and charitable causes both nationally and in Rhode Island. His passions included addressing childhood hunger and aiding refugee settlement within the state. As chairman of the Hassenfeld Family Initiatives, he played a key role in promoting global safety and human rights in children’s products, empowering women in developing nations, and enhancing economic, educational, and business prospects in Rhode Island.
He was a founding benefactor of Hasbro Children’s Hospital in Providence, and through his family’s donations, helped to establish the Hassenfeld Child Health Innovation Institute at Brown University.