The toy manufacturer Hasbro has reduced costs in light of declining sales and recently announced significant personnel changes. Stephanie Beal has been appointed as the new Head of Supply Chain, while two other executives will take on new roles to support the company's turnaround efforts.

Beal, who has been with Hasbro since 2022, succeeds Shane Azzi, who is leaving the company at the end of the month to pursue another opportunity. In her new role, Beal will continue to optimize processes and systems to increase efficiency and profitability. Previously, she led the digitization of planning processes, which enabled the teams to work more agilely and responsively, according to Hasbro.

Additionally, Hasbro appointed Dan Shull as Chief Digital Information Officer, who will begin his duties on Monday. Dan Rawson will take on an expanded role, overseeing direct and e-commerce sales while continuing to serve as the Global Play Lead for Dungeons and Dragons and role-playing games.

Toy companies are still adjusting to the end of the pandemic-driven sales boom of 2020 and 2021. Over the past two years, consumers have cut back on spending, leading to an excess of inventory and deep discounts for retailers.

In the most recent quarter, Hasbro stated that cost reductions and other measures, including layoffs and supply chain overhauls, are helping to improve margins and offset weak sales figures. Hasbro's revenue fell 24% in the last quarter and 9% excluding divested businesses, while competitors Mattel and Lego have seen growing sales figures in recent months.

At the end of last year, Hasbro began to review the costs of the components of its toys and games.

I think our team is truly committed to making our supply chain the most cost-competitive, first-class supply chain," said Chief Financial Officer Gina Goetter in an analyst call in April.

Beal previously held positions at consumer goods suppliers Kimberly-Clark and Unilever.