Laurel J. Richie
HASBROAbout Laurel J. Richie
Laurel J. Richie (age 66) has served on Hasbro’s Board since 2020 and is classified as an independent director. She is an independent leadership and branding consultant; previously President of the WNBA (2011–2015), Chief Marketing Officer of Girl Scouts USA (2008–2011), and a senior leader at Ogilvy & Mather (1984–2008). She has deep expertise in marketing, brand management, leadership development, and corporate culture, and previously chaired the Dartmouth College Board of Trustees (2017–2021) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Women’s National Basketball Association (WNBA) | President | May 2011 – Nov 2015 | Led league operations and brand strategy |
| Girl Scouts of the USA | Chief Marketing Officer | 2008 – 2011 | National brand-building, marketing leadership |
| Ogilvy & Mather | Senior Partner & Executive Group Director; founding Diversity Advisory Board member | 1984 – 2008 | Global marketing leadership; culture initiatives |
| Independent Consultant | Leadership & branding consultant | Since 2015 | Advises Fortune 100 C‑suite on leadership and culture |
External Roles
| Company | Exchange | Role | Committees |
|---|---|---|---|
| Bright Horizons Family Solutions Inc. | NYSE | Director | Audit Committee; Nominating & Corporate Governance Committee Chair |
| Synchrony Financial | NYSE | Director | Nominating & Corporate Governance Committee; Management Development & Compensation Committee Chair |
- Outside board service policy limit: ≤4 public boards (including Hasbro); all nominees comply .
Board Governance
| Item | Detail |
|---|---|
| Independence status | Independent director |
| Years of service at Hasbro | Director since 2020 |
| Current Hasbro committee assignments | Compensation & Talent; Nominating, Governance & Social Responsibility |
| Committee chair roles | None at Hasbro (Compensation Chair: Lisa Gersh; Nominating Chair: Mary Beth West) |
| Board/Committee meetings in 2024 | Board: 11; Compensation: 8; Nominating, Governance & Social Responsibility: 6 |
| Attendance | All directors attended ≥75% of Board and applicable committee meetings; all directors attended 2024 annual meeting |
| Executive sessions | Many Audit Committee meetings include executive sessions; committee chairs report to Board |
| Board refresh & effectiveness | Independent third‑party board effectiveness assessment completed in 2024 |
Fixed Compensation
| Component | Amount/Structure | 2024 Value (Richie) |
|---|---|---|
| Annual base Board retainer | $95,000 cash | Included in fees |
| Committee member fees | Compensation: $15,000; Nominating: $12,500 (non‑chair) | Included in fees |
| Chair fees (reference) | Audit $40,000; Compensation $35,000; Finance $30,000; Nominating $20,000 | Not applicable |
| Meeting fees | None (no meeting fees paid) | N/A |
| 2024 cash fees (Richie) | Fees earned or paid in cash | $122,522 |
| Equity Component | Grant Design | 2024 Value (Richie) |
|---|---|---|
| Annual director stock grant | $175,000 grant date fair value; immediately vested; deferral optional | $175,000 |
| Total 2024 compensation (Richie) | Cash + stock awards | $297,522 |
- Director stock ownership guideline: Must hold ≥$475,000 in Hasbro stock (five times annual Board retainer); no sales permitted until guideline met; dividends credited on deferred shares .
- Deferred Compensation Plan: Directors can defer retainers to stock unit or interest accounts; company matches 10% on stock unit deferrals (two‑year vest schedule); interest account bears five‑year Treasury rate .
Performance Compensation
| Element | Design Features | Notes |
|---|---|---|
| Director equity (annual grant) | Fixed fair value ($175,000 in 2024); immediately vested; eligible for deferral | Aligns with shareholder outcomes via stock exposure |
| Stock unit deferrals | Value tracks HAS share price; 10% company match (vests over two year‑ends) | Incentivizes long‑term alignment |
| Options for directors | None granted in 2024 | Lower risk profile than options |
Directors do not have performance‑metric‑based incentive plans; equity exposure and ownership/retention rules are primary alignment mechanisms .
Other Directorships & Interlocks
| Company | Relationship to Hasbro | Interlocks/Conflicts |
|---|---|---|
| Bright Horizons Family Solutions Inc. | No disclosed commercial relationship | Serves as committee chair; no interlocks disclosed |
| Synchrony Financial | No disclosed commercial relationship | Serves as committee chair; no interlocks disclosed |
- Compensation Committee interlocks: None; members (incl. Richie) were not officers/employees of Hasbro; no related transactions requiring disclosure in 2024 .
Expertise & Qualifications
- Executive leadership, strategic and operational expertise; extensive global marketing and brand management .
- Deep experience in developing senior leaders and corporate culture .
- Governance roles as committee chair at two public companies (nominating and compensation domains) .
Equity Ownership
| Measure | Amount |
|---|---|
| Beneficial ownership (Richie) | 10,476 shares; receipt deferred until retirement from Board |
| Outstanding stock awards (as of 12/29/2024) | 10,476 |
| Outstanding stock units (Deferred Plan) | 0 |
| Ownership as % of shares outstanding | Less than 1% |
| Hedging/pledging | Prohibited for directors; promotes alignment with shareholders |
| Director ownership guideline | ≥$475,000 of HAS stock; retention until guideline satisfied |
Governance Assessment
- Board effectiveness: Independent status, service on Compensation & Talent and Nominating committees positions Richie at the core of pay design, human capital oversight, governance, ESG, and director refresh processes—key for investor confidence .
- Alignment: Equity grants, deferral mechanisms, and stringent ownership/retention plus anti‑hedging/pledging policies support long‑term alignment; Richie defers director stock awards (10,476 shares), reinforcing skin‑in‑the‑game .
- Engagement & attendance: Board held 11 meetings in 2024; all directors met ≥75% attendance and attended the annual meeting, indicating strong engagement .
- Conflicts/interlocks: No Compensation Committee interlocks and no related‑party transactions disclosed; outside board service within Hasbro’s limit, though time commitments should be monitored given two external committee chair roles .
- Signals: 2024 board effectiveness assessment, robust shareholder engagement (say‑on‑pay approvals ~88–91% in 2022–2024), and refreshed committee remits (human capital, cybersecurity) bolster governance credibility .
RED FLAGS: None disclosed specific to Richie—no related‑party transactions, hedging/pledging prohibited, and Section 16(a) compliance reported as timely for all reporting persons .