Iconic brand appoints new CEO after eight months

LEGO is replacing its British chief executive Bali Padda, just eight months after appointing him.

The Danish toymaker said on Thursday that the 61-year-old will be sidelined to make way for Niels Christiansen, 51, who is currently boss of industrial tech firm Danfoss.

Mr Padda, who was only appointed in December as part of a wideranging management shake-up, will retain a role at the firm as a special adviser.

Mr Christiansen will take up the role on October 1.

Lego chairman Jorgen Vig Knudstorp said the transition to a new chief executive occurred “more rapidly than the board had anticipated”.

He added: “Niels is a great leader who delivered outstanding results while CEO of Danfoss.

“His experience in digitalisation and globalisation, implementing a transformative strategy, and creating an agile, high-performing, international team will benefit the Lego Group.”

Mr Christiansen began his career at management consultancy McKinsey and became chief executive of GN Netcom when just 33. He joined Danfoss in 2004 and became top dog in 2008. During his tenure, the company doubled in value to 39 billion Danish krone (£4.74bn).

He said: “I have loved building with Lego bricks since I was a child.

“As I look at the challenges facing this generation of children, the group’s mission, to inspire and develop the builders of tomorrow, is more important and urgent than ever.”