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Hasbro picks new president
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December 14, 1998: 8:54 a.m. ET
Toy maker names Quaker State Corp. chief Baum, ending year-long search
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NEW YORK (CNNfn) - G.I. Joe and Furby are getting a new boss as toy maker Hasbro Inc. named Quaker State Corp. chief executive Herbert M. Baum as its president and chief operating officer.
The announcement ends a nearly year-long search by Pawtucket, R.I.-based Hasbro (HAS). Baum has been CEO at Quaker State (KSF) since 1993 and will start at Hasbro after the proposed merger of Quaker State and Pennzoil Products Co. (PZL) is completed later this month.
Baum also spent 15 years at Campbell Soup Co. (CPB) and previously worked at the Needham Harper & Steers advertising agency. At Hasbro, he will report directly to Chairman and CEO Alan G. Hassenfeld and join the board of directors.
Hassenfeld said Baum has "an extraordinary track record of success in the consumer products area."
Hasbro makes of G.I. Joe, Tonka toys, Mr. Potato head and the current holiday toy obsession, Furby. The company also makes games under its Milton Bradley and Parker Brothers brands and has licenses for toys connected to the highly popular Star Wars trilogy.
Hasbro closed Friday up 7/8 at 35-1/16. Quaker State closed up 1/8 at 14-15/16.
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Hasbro
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