LEGO appoints Niels Christiansen as CEO
Famous toy company LEGO has announced the appointment of former Danish industrial manufacturer Danfoss’ chief Niels Christiansen as its new CEO.
Christiansen, who led Danfoss for nearly 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.
Padda reportedly decided to step down because of his age. Jorgen Vig Knudstorp, the head of the new LEGO Brand Group umbrella company, said Padda definitely not disappointed them.
In a newly released statement, Knudstorp said, “Bali has been part of the Lego Group family for the past 15 years. 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.”
Padda was appointed as the CEO of LEGO less than a year ago after former chief Knudstorp gave up the position to head up the new LEGO Brand Group umbrella company.
Lego enjoyed exploding sales in the past few fears, thanks to tie-ins with movies and the company’s own cinematic efforts, such as The Lego Movie and The Lego Batman Movie. However, most recent results showed a slight decline in the growth rate.
Luxury car giant BMW new Z4 is said to be a reincarnation of the first Z3 roadster that was produced at the company’s Spartanburg, South Carolina-based manufacturing facility in the mid 1990s.
Seeking to catch up to Tesla and other rivals, South Korean automaker Hyundai Motor Company has decided to place electric vehicles at the center of its product strategy.
Two hobbyists have built an electric car using recycled parts that is capable of running more than 700 miles on a single charge. The homemade electric car dubbed Phoenix has been created from nearly 90 per cent recycled parts (by weight).
Intensifying the race to develop the so-called ‘robotaxis,’ Fiat Chrysler (FCA) has decided to join a BMW-led alliance to develop self-driving or autonomous vehicles.
Electric car maker Tesla Motors is enjoying a rapid expansion in its used car business, prompting analysts to predict that the company is on the track to triple its used inventory sales.
Technology major Microsoft Corporation has rebuffed Consumer Reports findings on its popular Surface range of tablets and laptops.