COPENHAGEN: Danish toy maker Lego has announced a management shake-up to develop the brand beyond its iconic plastic bricks under the leadership of its veteran chief who brought the company back from the brink of bankruptcy.
CEO Jorgen Vig Knudstorp took over Lego when it was on the verge of collapse in 2004 and transformed it into one of the industry’s biggest success stories, but he will step down by the end of the year to head a new unit focusing on the Lego brand, called Lego Brand Group, the company said.
“With our recent growth and globalization come new and exciting opportunities for the brand,” deputy chairman and fourth generation owner Thomas Kirk Kristiansen said in a statement.
“We establish the Lego Brand Group to look into these new opportunities,” he said.
Lego’s colorful toy blocks have proved resilient to the rise of digital devices which is battering the traditional toy industry, but the company has also been adept at using different channels to engage with children.
The group has allowed partners to develop branded video games, a Hollywood blockbuster, television shows and theme parks.
The company has grown over the years, but has always remained owned by the family of creator Ole Kirk Kristiansen since its founding in 1932.
Its sales have increased five-fold in the past 10 years, to 35.8 billion kroner (4.8 billion euros, $5.1 billion).
The company shake-up should be seen in the light of its loss-making expansion into non-core businesses before Knudstorp took over, said Niels Lunde, editor of Danish business daily Borsen and the author of a book about Lego.
“Lego uses its brand in more channels now than it used to, and that is what Jorgen Vig Knudstorp will oversee in the new role,” he said.
Knudstorp was the first non-family member to take the helm of the group.
He will be replaced at the Lego Group by 14-year Lego veteran Bali Padda, currently the company’s chief operating officer.
Padda, a Briton, will be the first non-Dane to head Lego Group, which will manufacture the plastic bricks.
“Lego has become so big that it’s hard for one chief executive to carry out all of the tasks,” Lunde said.
“The CEO’s role (of Lego Group) will become smaller now than it has been,” he added.
The new unit, Lego Brand Group, would work with the Lego Group as well as other units, including Lego Education and attractions at the Merlin Entertainments-controlled Legoland theme parks.
Knudstorp will also become chairman of Lego Group.
Lego builds new company structure to grow brand
Lego builds new company structure to grow brand
First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
