Wizards of the Coast Head Named New Hasbro CEO

The head of Hasbro‘s Wizards of the Coast division will be the new head of the toy conglomerate. Hasbro announced that Chris Cocks will become its Chief Executive Officer on February 25th, replacing Interim CEO Rich Stoddart. Cocks will also become a member of Hasbro’s Board of Directors. Cocks currently is the CEO of Hasbro’s Wizards of the Coast division, which controls the popular Magic: The Gathering and Dungeons & Dragons brands as well as a growing digital games department. Cocks’ replacement at Wizards of the Coast will be announced at a later date.

“Chris’s extensive omni-channel experience and proven track record make him the ideal leader for Hasbro as it continues to become the world’s leading play and entertainment company,” current Hasbro Board Chair Tracy Leinbach said in a statement announcing Cocks’ promotion.

“A storyteller and gamer at heart, Chris innately understands how to create and nurture brands to drive fan and consumer connection across channels,” Stoddart added.

Under Cocks, Wizards of the Coast had become Hasbro’s most profitable brand. The division’s net revenues were up 63% compared to the previous year as of the last financial report, and Wizards was responsible for approximately 75% of Hasbro’s overall profits. A 2021 reorganization saw Wizards of the Coast take on a bigger role with the company, as the division became its own division (one of three at Hasbro) and was placed in charge of growing a wider game portfolio that included both D&D and Magic: The Gathering properties as well as new AAA IPs. Cocks previously worked at Microsoft, working with franchises like Halo and Fable, which makes him a good fit for Hasbro’s desire to grow its digital gaming portfolio. Under Cocks’ leadership, Wizards of the Coast turned Dungeons & Dragons into a premiere franchise outside of gaming, and kept Magic: The Gathering in a dominant position in collectible card games. Both D&D and Magic: The Gathering have multiple TV and movie projects currently in the works.

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Cocks becomes the new CEO after Goldner’s unexpected death last year. Goldner pushed Hasbro to utilize its various IPs in wider entertainment venues beyond just toys, while also continuing to build its licensed toy division.