Lego appoints 2nd CEO in 8 months

Lego appoints 2nd CEO in 8 months

Executive Grapevine
Executive Grapevine | Executive Grapevine International Ltd

The toy construction company Lego has appointed their second CEO in the space of eight months. Bali Padda, a British citizen and the very first foreign CEO to lead the Danish business, is out and Niels Christiansen, a Dane, is in – The Financial Times reports.

Christiansen is the former Director of Shipping at AP Moller-Maersk, as well as the ex-CEO of industrial giant Danfoss. The family-owned Lego is currently being aided by Jorgen Vig Knudstorp, the former CEO turned Executive Chairman, who reportedly saved the company from ruin in 2004.

When asked why he moved from the CEO slot into the Chairman role, Knustrop attests that he is still very active in another business and that this move was in the interests of the owning family. On the departure of Padda, Knudstorp claimed that he had “not disappointed” him.

He went on to explain that Padda could only have run the firm for a few years at most and stated that one of his reasons for working with Bali was that “his ego is not in the way of what is right for the company”. 

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