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.