LEGO appoints new CEO

Lego Swaps Out CEO Piece After Eight-Month Tenure

Lego has a new chief executive just eight months since it appointed its current chief executive, 61 year old Bali Padda.

The Danish toy company named Niels Christiansen as its new CEO on august 10.

"He transformed a traditional industrial company into a technology leader", said Vig Knudstorp - a former Lego CEO himself - adding he was confident the toymaker "will continue to flourish" under Christiansen.

Danish toymaker The Lego Group has named its new CEO on Thursday, choosing Niels B. Christiansen, 51. "He's definitely not disappointed us", Knudstorp told the newspaper. "Bali knew that I would immediately look for a successor".

"It can take a long time to find the right one, but when Niels stepped down at Danfoss, I faced one of the country's absolute best persons to lead a big global company". Though it set a record for sales last year, at $5.38 billion, its year-over-year growth slowed to 6 percent as the company struggled to compete for children's attention with smartphone apps and video games - particularly in the United States, where sales were flat last year.

In announcing his new recruit, Knudstorp praised Christiansen as a "great leader" who delivered outstanding results in his former role. Christiansen, who spent more than 25 years in business leadership, has technology experience and could help improve products and efficiency.

During his tenure, the company doubled in value to 39 billion Danish krone (£4.74 billion). Knudstorp was the first non-family member to head Lego.

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