A Penn alumnus is leaving My Little Pony, GI Joe and Furby behind to instead pursue philanthropic work.
Alan Hassenfeld, a University trustee since 1999, recently stepped down as chairman of the toy and entertainment company Hasbro, Inc. He said that he wants to be more involved in charitable work after spending years at the corporate giant's headquarters.
After graduating from Penn in 1970, Hassenfeld joined his family business and quickly ascended the ranks, assuming the titles of chairman and chief executive officer in 1989.
Senior Vice President of Hasbro Wayne Charness said that resigning has been "on the back of [Hassenfeld's] mind" since he stepped down as CEO in 2003. One of the main reasons for Hassenfeld's departure was his desire to pursue his philanthropic interests further.
Throughout his career, Hassenfeld has supported Penn by serving on a number of trustee committees, such as the Diversity Committee, the External Affairs Committee and the Development Committee. Most recently, he was appointed chairman of the Committee on Student Life.
"He has been involved in some way or another in just about every aspect of the University," Secretary of the University Leslie Kruhly said.
"He has already been incredibly generous with his time and energy. We hope that his resignation will allow him to give even [more time] to the University," Kruhly said.
Aside from serving as a University trustee, the Rhode Island resident is involved in a number of other philanthropic organizations, such as Refugees International and the Jewish Federation of Rhode Island. However, Hassenfeld's main philanthropic interest is children's issues, as shown by his work with the Hasbro Children's Foundation.
Kruhly said that Hassenfeld merged his passion for children's issues with his work at Penn.
"Alan is always thinking about tying together his passions and interests," Kruhly said, adding that Hassenfeld has been particularly enthusiastic about the Penn-Alexander School.
Although Hassenfeld is stepping down as chairman, he will remain the non-employee chairman.
