Hasbro shareholders re-elect board, rejecting activist calls for change

Hasbro Inc. announced preliminary results from the annual meeting on Wednesday showing that shareholders have re-elected all 13 members of the toy company’s board, including Chief Executive Chris Cocks, rejecting calls from activist investors Alta Fox Capital Management LLC to add five new members. “Our directors will be instrumental to Chris as he undertakes a strategic review of the business and outlines our go-forward strategy to position Hasbro for long-term success and delivery of shareholder value,” Hasbro said in a statement. Alta Fox has also pushed for a spin off of Wizards of the Coast, the business unit that houses Dungeons & Dragons. Hasbro shares are down 12.8% for the year to date. Kohl’s Corp. shareholders also recently rejected activist investor calls for board changes.

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