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Alta Fox Releases Presentation Detailing the Case for Change in Hasbro’s Boardroom Following Years of Poor Capital Allocation and Underperformance
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Rhea-AI Summary
Alta Fox Capital Management has publicly nominated three independent directors for election to Hasbro's Board after years of underperformance attributed to poor governance and capital allocation. Holding approximately 2.5% of Hasbro's shares, Alta Fox believes that electing their nominees is crucial for reversing stagnation and improving strategic direction, especially following the recent appointment of Chris Cocks as CEO. This move aims to introduce fresh perspectives and address skill gaps within the board.
Positive
Nominated three independent directors with expertise in governance and capital allocation.
Aims to improve strategic decision-making and overall company performance.
Negative
Years of underperformance attributed to poor corporate governance and capital allocation.
Concerns over the effectiveness of the current Board in addressing skill gaps.
Believes Electing Alta Fox’s Three Independent Nominees – Who Have Expertise in Corporate Governance, Capital Allocation and Strategic Planning – is Key to Reversing Long-Term Stagnation
Contends the Recent Appointment of Chris Cocks as CEO Represents the Right Moment to Address Skill Gaps and Introduce Fresh Perspectives on Hasbro’s Recently Expanded 13-Member Board
DALLAS--(BUSINESS WIRE)--
Alta Fox Capital Management, LLC (together with its affiliates, “Alta Fox” or “we”), the beneficial owner of approximately 2.5% of the outstanding shares of Hasbro, Inc. (NASDAQ: HAS) (“Hasbro” or the “Company”), today released a presentation that details its case for targeted change to the Company’s Board of Directors (the “Board”) following years of underperformance as a result of concerning corporate governance practices, disappointing capital allocation decisions and objectively poor strategic decisions. As a reminder, Alta Fox has nominated a three-member slate of independent directors – with significant experience in corporate governance, capital allocation and strategic planning – for election to Hasbro’s recently expanded 13-member Board at the Company’s 2022 Annual Meeting of Shareholders. Review the presentation and learn how to vote for boardroom change on the GOLD proxy card by visiting www.StrengthenHasbro.com.
About Alta Fox
Founded in 2018 by Connor Haley, Alta Fox is a Texas-based alternative asset management firm that employs a long-term focused investment strategy to pursue exceptional risk-adjusted returns for a diverse group of institutions and qualified individual clients. Alta Fox focuses on identifying often overlooked and under-the-radar opportunities across asset classes, market capitalization ranges and sectors. Learn more by visiting www.AltaFoxCapital.com.
