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Hasbro defeats board challenge from activist investor Alta Fox

06/08/2022

Less than a minute

2022.06.08 17:11

Hasbro defeats board challenge from activist investor Alta Fox
FILE PHOTO: The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, U.S., November 16, 2021. REUTERS/Andrew Kelly

(Reuters) – Hasbro Inc (NASDAQ:HAS) defeated a board challenge from activist hedge fund Alta Fox with shareholders re-electing all of the company’s directors, the toymaker said on Wednesday, citing a preliminary tally of voting results.

Alta Fox, which nominated one director to the company’s 13-member board, had pushed Hasbro to spin off its Wizards of the Coast and Digital Gaming unit and criticized how the company allocated its capital.

Reuters on Tuesday reported Hasbro was poised to prevail over Alta Fox in the board challenge.

06/08/2022

Less than a minute

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