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toy companies

August 20, 2009

Two iconic family companies explain to Katie Barker how they are thriving in a competitive industry despite the recession thanks to the introduction of professional management and the continuation family values.

When Lego turned to Jorgen Vig Knudstorp as CEO in 2004 he became only the second non-family member to lead the company in its 77-year history. Third-generation Kirk Kjeld Kristiansen had been running the iconic toy giant for 25 years but acknowledged he had lost his way. The business was suffering under a weight of debt and stagnating with management that believed the company was in better shape than it actually was.

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