Lego Replaces CEO After Eight Months to Further Digital Ambitions

Lego growth slowed in the second half of the year

Christiansen, who led Danfoss for almost a decade, has replaced 61-year-old British businessman Bali Padda, who was the first non-Dane to lead LEGO in its 85-year history.

The chief executive of Lego wil step down after just eight months because he is too old to have a long tenure.

Niels Christiansen, 51, most recently the head of industrial technology company Danfoss, will take over the position on October 1.

Jorgen Vig Knudstorp, the head of the new LEGO Brand Group umbrella company, said Padda definitely not disappointed them.

Christiansen will replace Bali Padda, 61, who has served as the Company's first non-Danish chief executive since January, 2017.

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Padda will now stay on to help Christiansen settle in at The LEGO Group and will then join Knudstrop as special adviser at the company continues to look at opportunities for the brand away from toys.

When Mr Padda took over last December Lego said the search would begin immediately for a successor.

In a newly released statement, Knudstorp said, "Bali has been part of the Lego Group family for the past 15 years". Knudstorp said the transition to a new CEO occurred more rapidly than the Board had anticipated.

He added: "Niels is a great leader who delivered outstanding results while CEO of Danfoss".

Lego's colourful toy blocks have proved resilient to the rise of digital devices which is battering the traditional toy industry, but the company has also been adept at using different channels to engage with children.

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