Lego CEO Step Downs in Historic Shift at Billionaire-Owned Firm
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The man who pulled Lego A/S out of an existential crisis to turn it into the world’s most profitable toymaker is stepping down as chief executive officer and will instead become the chairman of the company.
CEO Jorgen Vig Knudstorp, 48, will be replaced at the end of the year by 60-year-old chief operations officer, Bali Padda, Lego said on Tuesday.