denmark

Millennials in the board room are best placed to embrace the digital revolution at their legacy family businesses, a family business expert says.

The world’s far-reaching technological shift was a factor in the break-up of the 115-year-old Danish family-owned business Maersk, according to Professor Philippe Pelé-Clamour (pictured), HEC Paris adjunct professor specialised in executive education.

Flat global sales and corporate streamlining are behind an 8% drop in revenue for 2017, the Danish family owned Lego Group announced today.

Revenue for the full year fell after more than a decade of strong growth to DKK 35 billion ($5.8 billion) from DKK 37.9 billion ($6.3 billion) in 2016. The decline came despite a Lego movie and Star Wars merchandise tie-ins and the royal opening of the Lego House family attraction last year.

The Danish family owners of the $5 billion Lego Group have appointed the non-family executive who quadrupled revenue in less than 10 years to a new effort to develop the long-term potential of the brand.

The Kirk Kristiansen family, owners of arguably the biggest toymaker in the world, announced today they have decided to establish the Lego Brand Group.

Robert Maersk Uggla is 33 while Henry Cheng is 65 years old, but both next-gens, from different parts of the world, have made headlines this week for taking up top roles in their family businesses.

Danish industrial conglomerate Moller-Maersk said on 29 February that fourth-generation Uggla has been appointed head of the family business’s tugboat subsidiary, Svitzer. Until now, Uggla was chief executive of the group’s tanker operations.