Hasbro logoHasbro President and CEO Brian Goldner will become chairman on May 21, the date of the toy maker’s annual shareholder meeting, according to Hasbro this past Thursday. Goldner has been Hasbro’s president and CEO since 2008.

Chairman Al Verrecchia will step down in accordance with the company’s target retirement age of 72. Four other Hasbro directors will also retire from the board because they are close to retirement age: Frank Biondi Jr., John Connors Jr., Michael Garrett, and Jack Greenberg.

Hasbro has stated that current director Basil Anderson will become its lead independent director. The company is scheduled to report its fourth-quarter results tomorrow.