In addition to giving him power over hellfire and increasing his strength and speed to far greater than that of the original Hobgoblin, these powers also disfigure Macendale so that his head is even more grotesque than his Hobgoblin mask, and ultimately alters his mind so that he is deluded into thinking that his appearance is normal.
Several years later, in the pages of Amazing Spider-Man, Macendale succeeds in purging himself of his demonic powers.
Through both Stern and De Falco's runs, the answer to the mystery was continuously teased on the cover art, with the covers of Amazing Spider-Man #245, 251, and 276 all showing Spider-Man unmasking the Hobgoblin.
The mystery became further complicated after James Owsley came on as editor of the Spider-Man titles.
As I was scripting those gorgeous pages from JR [John Romita, Jr.], particularly the last third of the book, and developing the Hobgoblin’s speech pattern, I realized who he was.
It was Roderick Kingsley, that sunuvabitch corporate leader I had introduced in my first issue of [The] Spectacular [Spider-Man]." A handful of readers deduced that Kingsley was the Hobgoblin almost immediately.
Decided to create a name criminal himself instead of just being another Green Goblin, he altered the formula, the costume and improved the Goblin equipment in order to become the Hobgoblin.Towards the end of Macendale's run as the Hobgoblin he was revamped again, this time with cybernetic implants.Stern was unhappy with the revelation that his character's civilian identity was Ned Leeds, and in 1997 he wrote a three-issue miniseries, Spider-Man: Hobgoblin Lives, with the retcon that Roderick Kingsley was the original Hobgoblin, and had brainwashed Leeds into serving as a fall guy.Stern disagreed but said that De Falco should feel free to choose whoever he wanted for the Hobgoblin's secret identity, reasoning that "I knew that whomever Tom chose, he would make it work." Upon reviewing the clues, De Falco decided that the Hobgoblin was Richard Fisk.Moreover, he decided that the mystery of his identity should be prolonged as long as possible, since it was the chief element that made the Hobgoblin interesting.