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GOLDEN, Colo. & MONTREAL - Molson Coors Beverage Company (NYSE: TAP, TAP.A) has announced the nomination of Christian "Chris" Cocks, current CEO of Hasbro, Inc (NASDAQ: HAS), to its Board of Directors as an independent Class B director. The election is set to take place during the company’s Annual Meeting of Stockholders on May 14, 2025.
Cocks, who has a notable history in the consumer goods sector, is expected to contribute his extensive experience in commercial success, brand management, and digital transformation to Molson Coors’ Board. His leadership at Hasbro has led to significant achievements, including the company becoming a top IP licensor in digital gaming and a dominant force in mobile games revenue in the U.S. InvestingPro data reveals that Hasbro has maintained dividend payments for 45 consecutive years, demonstrating strong financial stability. For deeper insights into Hasbro’s performance and potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Geoff Molson, chair of the Molson Coors Board of Directors, expressed confidence in Cocks’ ability to enhance the board with his rich background and success in evolving a historic business. Cocks himself expressed honor and enthusiasm about joining the board of Molson Coors, acknowledging the company’s progress and strategy for the future.
Cocks brings a wealth of expertise from his previous roles, including President and Chief Operating Officer of Hasbro’s Wizards of the Coast and Digital Gaming division, as well as senior positions at Microsoft (NASDAQ: MSFT) and LeapFrog Enterprises, Inc. He also serves as a director at Hasbro and Brown University Health.
Molson Coors, with a history spanning over two centuries, has a diverse portfolio of beer and beverage brands. The company’s ambition is to be the first choice for consumers and customers, offering products for various segments and occasions.
This information is based on a press release statement from Molson Coors. The press release also contains forward-looking statements regarding the anticipated contributions of new directors and is not a solicitation of proxies for the upcoming stockholders’ meeting.
In other recent news, Hasbro has reported notable developments that could interest investors. The company’s fourth-quarter performance in 2024 exceeded expectations, prompting DA Davidson and Citi to adjust their price targets for Hasbro stock to $75, while maintaining a Neutral rating. Hasbro’s revenue is projected to stabilize in 2025, with low single-digit growth in the Wizards of the Coast segment and modest declines in Consumer Products, partly due to foreign currency headwinds. S&P Global and Fitch Ratings have revised Hasbro’s outlook to stable from negative, citing improved profitability and debt reduction, with Fitch noting a significant EBITDA recovery in 2024. Despite a 17% revenue decline in 2024 due to strategic exits from unprofitable lines and the divestiture of eONE, Hasbro’s Wizards of the Coast & Digital Gaming segment saw a 4% growth, driven by strong demand for MAGIC: The Gathering.
Analysts highlight Hasbro’s strategic focus on digital and gaming, anticipating mid-single-digit revenue growth in 2025 for these segments. The company’s long-term strategy includes reducing reliance on traditional toys and increasing its digital portfolio, which could lead to less seasonality and new growth avenues. DA Davidson’s analysis acknowledges Hasbro’s potential for sales acceleration through new product launches, such as the upcoming video game EXODUS, expected to contribute to growth in 2026. However, there is caution regarding future profitability, particularly concerning margin expansion reliant on toy sales. The company’s financial metrics are supported by a policy favoring debt repayment, with Hasbro’s leverage expected to remain below the 3x threshold through 2026.
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