Business

Lego boss, 61, replaced 'due to his age'

Lego boss, 61, replaced 'due to his age'

The India-born British national Bali Padda was the first non-Danish leader of the toy brick giant and will remain as an adviser once Niels Christiansen, 51, a Dane, takes over on October 1, the company said.

Niels B. Christiansen has spent the last 9 years as CEO of another family-owned, Danish-based group, Danfoss.

Padda, a 61-year-old India-born Brit and Lego's former chief operations officer, was only considered a temporary CEO. During his job at Danfoss he managed to increase the compoany's revenues by 50 per cent, taking Danfoss from industrial technology to digital technology. He has also been on the board of AP Moller-Maersk, Danske Bank and Bang & Olufsen.

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Christiansen said he was honored to join the company.

Mr Knudstorp says he started looking for a younger successor to Mr Padda, who is the oldest person on the Lego management team, immediately after his appointment, but admitted that the transition had come faster than expected. Both Bali and I thought it would take a long time as it's not a trivial matter.

"He played an integral role in the turnaround of the LEGO Group and during his time as CEO created a solid foundation from which to continue to transform the company. I suddenly saw a chance to shorten the process", Mr Knudstorp said. "I was just very fortunate that, relatively early, we found the right person", Mr Knudstorp said.


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