The Singing Machine Company, Incorporated, the North American leader in consumer karaoke products – has announced that Jay Foreman, Founder and CEO of Basic Fun!, has been appointed to the Company’s Board of Directors as part of its successful uplisting to Nasdaq on Tuesday, May 24, 2022. Mr. Foreman brings a deep range of industry experience in toys, product development, retail distribution, marketing, and capital markets.
Mr. Foreman has been a veteran of the toy industry for over 30 years. Mr. Foreman started his career at Fable Toys as a territory sales rep for the Jersey Shore and within ten years became SVP for Galoob Toys, where he was primarily responsible for developing the direct import business. Mr. Foreman has founded multiple toy companies over his career, including co-founding Play-By-Play Toy’s and Novelties and more recently Play Along Toys, a leading toy company, which was subsequently sold to Jakks Pacific in 2004. Mr. Foreman later went on to found his third start up which became Basic Fun!, now the makers of Tonka trucks, Care Bears, K’NEX, Lincoln Logs and Playhut. Mr. Foreman currently serves as CEO of Basic Fun!, which role he has had since he founded the company in 2009.
Jay Foreman made an investment in the Singing Machine Company’s recently announced public offering signaling his faith and commitment to the overall business model and corporate strategy of the company.
“Jay has been a visionary in the toy industry for well over 3 decades. He has a tremendous passion for products and has a proven track record of building successful companies from the ground up,” said Gary Atkinson, Singing Machine CEO. “Jay has built a wonderful toy company in Basic Fun! which shares a common goal of bringing joy to households across the world. We’re excited to welcome Jay to Singing Machine’s board of directors and I know we will all benefit from his unparalleled experience in the industry.”
“I’ve been following the Company for many years and believe that Gary and his leadership team are on the right track to continue to build and drive the business. I look forward to contributing my industry experience and insight to the company and helping to take the business to the next level. It all starts with the fact that the Company makes a great product!” said Mr. Foreman.
Mr. Foreman has also served on the boards of directors of the Toy Association and Licensing Merchandisers association. He currently chairs the Toy Industry trade show committee which is responsible for the world-famous NY Toy Fair.