Lego growth slowed in the second half of the year
Andrey Rudakov Bloomberg
11 August, 2017, 00:24
Christiansen will take on the role from October 1.
Toymaker Legonamed Niels Christansen as chief executive replacing Balid Padda.
Jorgen Vig Knudstorp, the chairman of the LEGO Group, emphasizes that Padda's age and "realisation he could only do the job for a few years at most" have brought about a change in the top management.
During his time at Danfoss, Christiansen was credited with giving the global company a larger digital focus.
Padda, who took over as chief executive for Lego eight months ago, was Lego's first foreign CEO. The search had been expected to take longer than a year, but Christiansen was considered the right person for the role.
In March, Lego said its 2016 revenue grew 6 percent to 37.9 billion kroner ($6 billion), the highest figure in the company's 85-year history.
Mr Knudstorp said the transition to a new chief executive simply happened more rapidly than had been anticipated.
Christansan has been serving Danfoss, an engineering company, as CEO.
Christiansen is already looking ahead to his new role. Bali knew that I would immediately look for a successor.
He said he is "honoured to have the opportunity to join an organisation as iconic and purpose-driven as the LEGO Group".
Lego, a competitor to Mattel, has been focusing on manufacturing of colorful plastic internet locking bricks and minifigures.
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