Gap adds Hasbro CEO to board amid turnaround efforts
US apparel giant Gap Inc has recruited the chief executive officer of toy maker Hasbro, Brian Goldner, to serve on its board of directors as the retailer tries to reverse a slump in sales.
Goldner, who also serves as Habsro chairman and president, will take up the role from today (12 August) and will bring more than three decades of experience to the company.
Since joining Hasbro in 2000 and taking on the role of president and CEO in 2008, Goldner has driven Hasbro's evolution from a traditional toy and game company to a branded-play company through the global reinvention of its portfolio.
"Brian's ability to drive transformative change is impressive, as his leadership has enabled Hasbro to emerge as one of the most profitable and forward-thinking companies in the toy and game industry," says Bob Fisher, chairman of the board, Gap Inc. "We look forward to leveraging Brian's drive for innovation, as we accelerate our efforts to win in this next era of retail."
During his tenure at Hasbro, Goldner has been credited for driving the company's successful digital strategy, including digital gaming, marketing and e-commerce, as well as its burgeoning lifestyle licensing business. He also spearheaded Hasbro's entry into entertainment across a variety of platforms.
"I look forward to working with Art Peck and the board to contribute to the company's next phase of growth," adds Goldner.
The news comes just days after Gap saw its share price tumble as it revealed July comparable sales that missed analyst estimates and a fall in second-quarter revenues. For the four weeks ended 1 August, comparable sales slid 4% – steeper than analyst predictions of a 1% decline.
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