Created because they wanted the Green Goblin back but didn't want Norman Osborn or Bart Hamilton involved, or have Harry Osborn become him again, creators instead decided to make a new character in the Goblin heritage. With a secret identity as convoluted behind the scenes as it was on the comic pages, Roderick Kingsley ended up being the first incarnation of Hobgoblin. A billionaire fashion designer with underworld connections, he came into his riches rather unethically.
After Kingsley was almost murdered by fashion rival Narda Ravanna aka Belladonna, he decided to protect himself a little better. Luckily, one of his thugs stumbled across Norman Osborn's Green Goblin lair. Kingsley then killed him so he wouldn't tell anyone.
He perfected Osborn's strength potion since he was a whiz at chemistry and biology. None of those pesky side effects Osborn had like blacking out for long periods of time. And he updated Greeny's gadgets, like the glider and the Jack O'Lantern bombs. He was also a huge narcissist. Kingsley ended up wanting to leave the Hobgoblin behind, so he decided to frame Spider-Man advocate Flash Thompson. But Jason Philip Macendale Jr., also known as Jack O'Lantern, got in the way by trying to break him out of jail for the framed crimes. Kingsley then pretended that Daily Bugle reporter Ned Leeds was the Hobgoblin by brainwashing him. Macendale paid Foreigner to take him out. People believed he was the Hobgoblin for years after his murder.