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Former Toys exec named CEO in Fairfield [The Record (Hackensack, N.J.)]
[October 30, 2014]

Former Toys exec named CEO in Fairfield [The Record (Hackensack, N.J.)]


(Record (Hackensack, NJ) Via Acquire Media NewsEdge) Oct. 30--Fairfield-based toy company Alex Brands named Neil Friedman, a former top executive at Wayne-based Toys "R" Us as well as at some of the biggest U.S. toy manufacturers, as its president and chief executive officer Wednesday.



Friedman, 66, replaces former Alex Brands President Fred Keller, who is leaving the company, according to a company spokesman. Keller became president after a private equity firm acquired the former Northvale-based Alex Toys in May 2013.

Friedman, who was inducted into the Toy Industry Hall of Fame in 2004, is a respected toy expert with experience at Fisher-Price, Mattel and other toy companies. He was president of U.S. stores for Toys "R" Us from 2011 to 2012. As president of Tyco Toys in 1996, Friedman helped promote the first Tickle Me Elmo doll that became a toy craze and sold out around the country.


Friedman, who retired from Toys "R'' Us to become a consultant, said he decided to take the Alex Brands job because "I love the brands." The company's toy lines, including Alex, Slinky, Fundex and Ideal Games, give it a great foundation, he said.

"I've always been all about brands and building brands. This is right in my sweet spot, and we'll come up with more great products and make the company bigger." "For me the toy business has always been fun, and this is just another way to have fun," Friedman said.

Michael Cornell, chairman of Alex Brands, said Friedman is "unparalleled in this industry for his vision, experience and track record of success." Cornell said that with the company's recent expansion into Europe and rapid growth "there truly is no one better suited to lead this company into the next phase of its evolution." Alex Brands is the company created by the merger of the former arts and crafts and infant toy company Alex Toys, with other toy companies owned by Propel Equity Partners, a private-equity firm based in Connecticut. Other toy brands at Alex Brands include Scientific Explorer and Zoob.

Friedman had been appointed to the board of Alex Brands earlier this year.

Friedman began his toy career in 1972 at Lionel Leisure, a toy manufacturer and retailer that operated the Lionel Kiddie City stores. He was president of the Fisher-Price division of Mattel from 1999 to 2005, and president of Mattel Brands from 2005 to 2011.

Alex Brands moved into its new headquarters in Fairfield this year, and is preparing to open a distribution center in Woodbridge.

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