Toy and game company Hasbro promoted Stephanie Beal to chief supply chain officer, per a July 11 press release. She succeeded Shane Azzi, who will depart at the end of July “to pursue a new opportunity,” the announcement said.
In her new role, Beal will “continue thoughtfully refining processes and systems to uncover inefficiencies and deliver more profitability,” per the press release.
Beal joined Hasbro in July 2022 as SVP of global planning, process and governance for the global supply chain, according to her LinkedIn profile. In that role, she led a system transformation to digitize Hasbro’s planning process, the company said.
Prior to Hasbro, Beal served as VP of supply chain planning, strategy and transformation at Rockwell Automation. She also counts Kimberly-Clark, Anheuser-Busch InBev and Unilever on her resume.
Beal’s appointment comes as Hasbro implements digital transformation and “ongoing turnaround efforts,” per the press release. Other recent appointments include the expanded role of its global play lead for Dungeons & Dragons and RPGs, Dan Rawson, to include direct-to-consumer and other e-commerce strategies. Hasbro also said it hired former REI c-suiter Dan Shull as its new chief digital information officer.
Hasbro is on a years-long journey of evolution and disruption as the toy industry has shifted. In addition to challenges stemming from the changing market, capacity shortages and port congestion led Hasbro to a trove of unfulfilled orders in 2021 and some suboptimal financial results.
In October 2022, Hasbro unveiled its “Blueprint 2.0” plan to rightsize its revenue. So far, the plan has included adjustments to the company’s supply chain, including SKU rationalization and related layoffs. However, progress hasn’t been immediate; the company swung to a $171.1 million loss in Q3 last year.
During a presentation in April, CEO Chris Cocks told investors and analysts the company recorded “tangible progress” on its turnaround. Inventories were at a multi-year low, decreasing more than 50% from the prior year, and CFO Gina Goetter noted supply chain productivity was ahead of inflation as the company worked to reduce operating expenses.
“Thanks to our operational discipline and careful SKU management, we’re in a good position with our large retail partners as we work towards new product innovation,” Cocks said.
