President and Chief Executive Officer of Hasbro Brian Goldner unveiled the first temporary logo for Michael Bay's upcoming Transformers 4. He also revealed some minor plot details at the UBS Best Of Americas 2012 Conference. Check out the new temporary logo.

Here the CEO speaks on how the fourth installment will introduce new characters as a result of the poor sales of Hasbro's Transformers: Dark of the Moon toy line.

"This is why Transformers 4 will have a new cast of [robot] characters and it will be a story revolving around these new characters."

Michael Bay will be directing from a script provided by Ehren Kruger.