Former Hasbro CEO Alan Hassenfeld Dead at 76, Family Founded Toy Maker

Former Hasbro Inc. CEO Alan G. Hassenfeld, whose family founded the iconic toy company, is dead.

Alan's death was announced Wednesday by Hasbro ... but it's unclear when and where he died ... or what the cause of death was.

His grandfather, Henry, founded Hasbro way back in 1923 ... and it's the second largest American toy company ... behind only Mattel. Hasbro makes G.I. Joe, Transformers, Mr Potato Head, My Little Pony, Nerf, Play-Doh and tons of other iconic toys.

Alan joined the family business in 1970 straight out of college and he quickly climbed the ranks ... by 1980, he was the executive vice president and in 1984 he became president. Alan became Hasbro's CEO in 1989 when he was only 47 years old, and he stepped down in 2003. He'd remained as a chairman, but left the board last year ... and now there are no family members remaining on the board.

Current Hasbro CEO Chris Cocks told the Associated Press, "Alan's enormous heart was, and will remain, the guiding force behind Hasbro — compassionate, imaginative, and dedicated to bringing a smile to the face of every child around the world. His tireless advocacy for philanthropy, children's welfare, and the toy industry created a legacy that will inspire us always."

Alan was 76.