In late 2004, Jørgen Vig Knudstorp was appointed chief executive, replacing Poul Plougmann. Kjeld Kirk Christiansen stayed as president, but moved away from day-to-day management. Poul Plougmann and Francesco Ciccolella, head of corporate development, left the company. Knudstorp set out a three-phase approach to the turnaround. By 2014, The LEGO Group had become the global leader in the toy market, the fastest-growing and most profitable company in the toy industry.
Learning Objective
Discussion of the three-phase approach to the turnaround and of the achievements, results and future challenges.
Keywords
Family Business, Crisis, Next Generation, Succession, Generational Transition, Governance, Leadership, Ownership, Strategy, Turnaround Management, Resilience, Innovation, Brand, Value, Communication
Settings
Global, Denmark
Lego Group (The)
1995-2013
Available Languages
English
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