“2017 was a challenging year and overall we are not satisfied with the financial results,” Christiansen said. Jorgen Vig Knudstorp, the Lego chairman and former chief executive, said the company had developed too many layers and overlapping functions, preventing it from realising its growth potential. Knudstorp, who was widely credited with rescuing Lego from its last crisis, was elevated from chief executive to chairman in 2016, becoming the first non-family member to head Lego. Kjeld Kirk Kristiansen, grandson of Ole, is chairman of Kirkbi, the family holding company that owns 75% of Lego. “There wasn’t enough room to get 2017 toys into the stores, and the toy trade is driven by newness,” the spokeswoman said.

Source: The Guardian March 06, 2018 12:33 UTC