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4Kids Chairman Retires, Goldstein Steps In

4Kids Entertainment announced today that Alfred R. Kahn, long time chairman and chief executive officer, has retired and will be leaving the company. "After almost 25 years, I have reached the point in my career where I want to relinquish my res

4Kids Entertainment announced today that Alfred R. Kahn, long time chairman and chief executive officer, has retired and will be leaving the company.
 
"After almost 25 years, I have reached the point in my career where I want to relinquish my responsibilities at 4Kids," Kahn says. "After helping steer the company through challenging times, I have decided that it is the right moment for me to retire."

The Board of Directors appointed Michael Goldstein, who has been a director of the company since 2003, as the interim chairman of 4Kids. Goldstein served as chairman of the board of directors of Toys 'R' Us from 1997 to 2001, and vice chairman and chief executive officer from 1994 to 1998.The company will be conducting a search for a new CEO.

"I want to thank Al Kahn for his years of service at 4Kids as its Chairman and Chief Executive Officer" Goldstein says. "Under his leadership, 4Kids served as the merchandise licensing agent for some of the most successful properties of the last two decades such as Nintendo, Pokemon, Yu-Gi-Oh!, Teenage Mutant Ninja Turtles and Cabbage Patch Kids. We wish Al success in his future endeavors".

4Kids will continue to explore a variety of strategic alternatives including a possible sale of all or a portion of the company's stock or business.

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