PROVIDENCE — Alan G. Hassenfeld, whose family founded toy giant Hasbro a century ago and who went on to become a prominent businessman and philanthropist, died in London on Tuesday. He was 76.
Mr. Hassenfeld’s death was confirmed by Rhode Island House Speaker K. Joseph Shekarchi.
Last year, Mr. Hassenfeld stepped down as the chairman emeritus of Hasbro, which ended his family’s role in directly running the toy company, maker of iconic games and toys including Monopoly, My Little Pony, and Nerf. “No matter all of the wonderful toys we make, the only way we have those toys is by having great people,” Hassenfeld told WJAR at the time.
In 1989, he was named chief executive officer of the company. He remained in the post until 2003.
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Now a multinational company, Hasbro was founded by Mr. Hassenfeld’s grandfather and grand-uncle in December 1923. It is headquartered in Pawtucket, R.I.
“Alan’s enormous heart was, and will remain, the guiding force behind Hasbro — compassionate, imaginative, and dedicated to bringing a smile to the face of every child around the world,“ Chris Cocks, CEO of Hasbro, told the Globe on Wednesday. ”His tireless advocacy for philanthropy, children’s welfare, and the toy industry created a legacy that will inspire us always.”
Mr. Hassenfeld was born on Nov. 16, 1948, to Merrill Hassenfeld and Sylvia Grace Kay Hassenfeld. He earned a bachelor’s degree from the University of Pennsylvania, where he was initially studying creative writing and was “flushed with sixties rebelliousness,” according to a profile in Family Business Magazine.
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In 1970, Mr. Hassenfeld joined Hasbro at the request of his late brother, Stephen Hassenfeld, and worked in jobs that included marketing and sales for domestic and international operations. In 1972, he was named vice president of international operations and vice president of marketing and sales. He was named president in 1984, and was largely responsible for building Hasbro’s international operations.
When his brother died, Mr. Hassenfeld was appointed CEO, a job he later said he never expected to take.
Mr. Hassenfeld supported a number of initiatives concerning children and was a founding benefactor of Hasbro Children’s Hospital in Providence. The hospital officially opened in 1994.
“Like his father, Merrill, Alan believed in ‘living charity.’ He was a philanthropic giant in our community, and the list of organizations and causes he helped could fill pages,” said Shekarchi in a statement on Wednesday. “Whether it was strengthening our economy through economic development and creating jobs; ensuring better outcomes for children by supporting educational and health initiatives; or advocating for human rights, gun safety, and social justice, Alan was unafraid to take a stand.”
“Alan’s legacy has left an indelible imprint on our community,” said Shekarchi. “He was a wonderful human being, and I will miss his humor and sage advice.”
In 2005, Mr. Hassenfeld announced he would retire as Hasbro’s chairman and become the non-employee chairman emeritus of the board, saying that doing so would “give me the increased freedom to aggressively advocate for — and on behalf of — the children of the world.”
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The company’s CEO at the time, Alfred J. Verrecchia, said Mr. Hassenfeld “epitomizes everything that is right about Hasbro.”
In 2008, Mr. Hassenfeld established the nonprofit Hassenfeld Family Initiative, an organization that has focused on women and children’s rights and safety.
“Alan Hassenfeld was a titan of the toy industry and a generous, compassionate philanthropist who made a difference in Rhode Island and across our nation,” US Representative Gabe Amo said in a statement Wednesday. “Embodying Hasbro’s spirit of joy, Alan brought a pioneering approach to his leadership and saw the best in everyone. His legacy will live on in the many causes that he supported; from institutions of higher learning to organizations improving the lives of children around the world.”
Mr. Hassenfeld was inducted into the Rhode Island Heritage Hall of Fame in 2009. “His enthusiasm and spirit has touched the lives of millions of people and impacted communities across the world. Whether he is fighting for the human rights of manufacturing workers in Asia or making decisions as the Chairman of the Scholar Athlete Games, his energy and guidance always provide positive results,” the Hall of Fame wrote of his induction.
He was reelected to the Board of Trustees of the Corporation of Brown University in 2020, after having served from 1990 to 1996.
In a statement, the Greater Providence Chamber of Commerce called Mr. Hassenfeld “an extraordinary leader, visionary philanthropist.”
“Alan’s legacy extends far beyond his stewardship of Hasbro. He embodied the very best of corporate citizenship, using his platform to champion children’s causes, global human rights, and community well-being with unmatched generosity and heart,” the statement said. " Alan believed in the power of business to do good — and he lived that belief every day. His impact on the lives of countless individuals, here in Rhode Island and across the globe, is immeasurable."
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Mr. Hassenfeld was an advisory committee member of the Hassenfeld Child Health Innovation Institute, which was founded at Brown in 2016 with a $12.5 million gift from the Hassenfeld family.
“Alan’s profound legacy extends across many issues important both locally and globally, but his dedication to making a positive difference in the lives of children has long stood out to me as the cause closest to his heart,” Brown president Christina H. Paxson told the Globe. “His counsel as a Brown trustee was invaluable, his support for Brown research and teaching has been instrumental, and it was a pleasure to work with him for years.”
“Through his deep commitment to philanthropy, Alan championed causes that improved the lives of so many children and families across our state,” said Governor Dan McKee in a statement. “His legacy will live on for generations to come.”
This story has been updated.
Alexa Gagosz can be reached at [email protected]. Follow her @alexagagosz and on Instagram @AlexaGagosz.