Alta Fox, a firm which owns a 2.5% stake in Hasbro, said the company’s chairman, Rich Stoddart, is ‘unqualified to continue serving’
chairman and two other directors, as the activist investor pushes for changes at the toymaker including a spin-off of it Wizards of the Coast unit.
In response, Hasbro reiterated its call to shareholders to reject all of the activist’s board nominees, saying they would only serve “to disrupt and distract the company”. Alta Fox in February pushed Hasbro to consider spinning off its Wizards of the Coast unit, which publishes “Dungeons & Dragons” and “Magic: The Gathering”, to boost its lagging share price, something the company has said it will not do.
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