Pass Go and Collect the Job of CEO

After 38 years at Hasbro, the toy-and-game giant, Al Verrecchia wins the prize

Provide news feedback or report an error

August 4, 2003 at 4:00 AM UTC

This article is for subscribers only.

Alfred J. Verrecchia, the new chief executive of Hasbro (HAS ) Inc., America's second-largest toy company, is a suit's suit. He's tall, poker-faced, and perfectly coiffed. After working at Hasbro for 38 years, starting as a junior accountant, he can reel off stats like nobody's business. He drills managers in risk-reward analysis and has been known to curse toys that don't perform well. Over the years, it has been Verrecchia who in various guises has made the tough, sometimes painful decisions at the family-run company. "I'm probably the hammer in the organization," he says.

No kidding. For years, he has been the heavy for Alan Hassenfeld, the 54-year-old grandson of the company's founder. Hassenfeld, who controls the family's 10.8% stake in Hasbro, surrendered the sandbox in May after a somewhat chaotic 14-year reign. He'll remain chairman and work full-time, focusing on philanthropy, governance, and the creative side of the nearly $3 billion business.