The first Hobgoblin in the Marvel comics was a businessman named Roderick Kingsley. He was a complete narcissist and would not stop at anything to get what he wanted. When Roderick Kingsley got to know about Norman Osborn’s Green Goblin formula, he decided to test that formula on someone else and then test it on himself. After some testing, he created modifications to the formulas. And when he exposed himself to the modified formula, he gained all the power that Green Goblin had without going insane and became Hobgoblin. The Hobgoblin appeared almost 20 years later than the Green Goblin. Just because the writer did not want to resurrect the Green Goblin.