Cynthia Williams Joins from Microsoft to Lead Wizards of the Coast and Digital Gaming Business

Tim Fields Joins from Kabam as Senior Vice President and General Manager of Digital Gaming

Hasbro, Inc. (NASDAQ:HAS) today announced that Cynthia W. Williams has been appointed President of its Wizards of the Coast and Digital Gaming division and that Tim Fields has been appointed Senior Vice President and General Manager of Digital Gaming, both effective February 21, 2022.

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Cynthia Williams - President, Wizards of the Coast and Digital Gaming (Photo: Business Wire)

Ms. Williams joins Hasbro from Microsoft, where she most recently served as General Manager and Vice President, Gaming Ecosystem Commercial Team, and most notably drove the expansion of Xbox Gaming and the acceleration of game-creator growth. Prior to joining Microsoft, Ms. Williams spent more than a decade at Amazon, where she led the global growth of their e-commerce direct-to-consumer business Fulfillment by Amazon.

Mr. Fields joins Hasbro from Kabam Games, one of the most successful mobile gaming studios in North America, where he served as CEO for the past five years. Under his leadership, Kabam developed and operated numerous AAA games, including Marvel Contest of Champions, Disney Mirrorverse, Fast and Furious and Transformers: Forged to Fight. A 26-year veteran of the video game industry, Tim has held a range of leadership positions at major publishers, including Capcom, Microsoft and Electronic Arts.

Chris Cocks, current President and Chief Operating Officer of Hasbro's Wizards of the Coast and Digital Gaming division, said: "We are extremely pleased to welcome Cynthia and Tim to the Hasbro family. They join at an exciting and dynamic time, and Wizards of the Coast – as well as all of Hasbro – will greatly benefit from their skills and experiences. Cynthia brings a deep understanding of technology and e-commerce, along with cloud and console-based gaming. She has a proven track record, across both Microsoft and Amazon, of scaling businesses to drive profitable growth. Her experience is highly complementary to Tim's, who brings to Wizards unmatched production experience and a demonstrated ability to accelerate the growth of brands in mobile gaming."

"I am extremely proud of our team and the great successes we've had across our Wizards of the Coast and digital gaming business over the last five years, and also of the IP we've created to attract top talent in our space," Mr. Cocks continued. "As I transition into my new role as CEO of Hasbro later this month, I am excited to partner with Cynthia and Tim, working together to expand our fan base, deliver across the Brand Blueprint and activate our significant investments in the business to become the world's leading fantasy-inspired gaming publisher on all platforms."

Ms. Williams said: "Joining the team whose passion and imagination created such iconic games as MAGIC: THE GATHERING and DUNGEONS & DRAGONS is a dream come true. With best-in-class developers, designers and producers, the opportunities at Wizards of the Coast for creative storytelling and innovative game play are limitless. I look forward to working with Chris, Tim, Hasbro and the entire Wizards of the Coast team to build on their incredible momentum and deliver exciting new experiences for our fans globally."

Ms. Williams will succeed Mr. Cocks, who will assume the role of CEO of Hasbro on February 25, 2022. As the head of Wizards of the Coast and Digital Gaming, Ms. Williams will lead the strategy for two of the biggest names in gaming, MAGIC: THE GATHERING and DUNGEONS & DRAGONS, while driving continued global growth for the division and leading new fan and story-led tabletop and digital experiences. She will build and expand on the outstanding foundation laid by Mr. Cocks, under whose leadership Wizards of the Coast doubled its revenue from 2018 to 2021.

Mr. Fields said: "As a lifelong gamer who has been playing DUNGEONS & DRAGONS and MAGIC: THE GATHERING since I was a child, I am thrilled to be joining the Wizards and Hasbro family to develop the next generation of AAA digital games. Working alongside such a talented team and under Cynthia's leadership, I look forward to bringing the love of these brands to millions more players around the world."

Mr. Fields will report to Ms. Williams. As Senior Vice President and General Manager of Digital Gaming, he will be responsible for all digital gaming, including internal and external development of Wizards' growing portfolio of story-led projects.

About Hasbro

Hasbro (NASDAQ:HAS) is a global play and entertainment company committed to making the world a better place for all children, fans and families. Hasbro delivers immersive brand experiences for global audiences through consumer products, including toys and games; entertainment through eOne, its independent studio; and gaming, led by the team at Wizards of the Coast, an award-winning developer of tabletop and digital games best known for fantasy franchises MAGIC: THE GATHERING and DUNGEONS & DRAGONS.

The company's unparalleled portfolio of approximately 1,500 brands includes MAGIC: THE GATHERING, NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, DUNGEONS & DRAGONS, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as premier partner brands. For the past decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media and one of the World's Most Ethical Companies by Ethisphere Institute. Important business and brand updates are routinely shared on our Investor Relations website, Newsroom and social channels (@Hasbro on Twitter, Instagram, Facebook and LinkedIn.)

Hasbro Forward-Looking Statements

Certain statements in this press release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be accompanied by such words as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "project," "target," "will" and other words and terms of similar meaning. Among other things, these forward-looking statements include statements related to the potential to further build and grow the Wizards of the Coast business. Hasbro's actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Specific factors that might cause such a difference include those risks detailed from time to time in Hasbro's filings with the U.S. Securities and Exchange Commission. The statements contained herein are based on Hasbro's current beliefs and expectations and speak only as of the date of this press release. Except as may be required by law, Hasbro does not undertake any obligation to make any revisions to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of this press release. You should not place undue reliance on forward-looking statements.

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