Jorgen Vig Knudstorp the man behind LEGO Group’s dramatic turnaround will be stepping down as CEO to clear the path for current COO Bali Padda to take the reins as new CEO. Jorgen Vig Knudstorp took the CEO mantle back in 2004 when LEGO Group was struggling to offer what LEGO consumers wanted and control costs which were spiraling out of control.
During his tenure Jorgen Vig Knudstorp started by bringing back fiscal responsibility and cost control. After the task of streamlining and reducing the complexity of pieces and molds “back to basics” was complete, Knudstorp set about putting the design and creativity into the hands of hardcore fans, knowing that they would have a better understanding of what the consumer wanted in the brand. This followed by LEGO Group’s first designer recruitment workshop in 2006.
From this point onwards LEGO Group sales grew year on year, bring new themes, licensed brands, animated TV shows, digital games and entering into the movie industry with the hugely successful LEGO Movie.
Image courtesy of News Strait Times Online – Bali Padda centre right
Bali Padda will be the first non-Danish CEO to lead the LEGO Group, but never fear Jorgan Vig Knudstorp won’t be going too far taking up the role as LEGO Group Chairman. Can’t wait to see what Padda will bring to the role and wish LEGO Group continual success – I know self serving being an AFOL!