Latest / The CEO Diary with Fexingo: Leadership Lessons, Executive Decisions, and Corner Office Stories
How Jørgen Vig Knudstorp Saved LEGO from Near Bankruptcy
In 2003 LEGO was losing a million dollars a day. The company had overexpanded into theme parks, clothing lines, and video games. This episode breaks down how then-new CEO Jørgen Vig Knudstorp — at 36 the youngest CEO in LEGO's history — executed a radical turnaround. He sold off non-core assets, killed 80 percent of product SKUs, and refocused the company on the brick. The key insight? Knudstorp didn't just cut costs. He rebuilt the innovation pipeline by listening to AFOLs — Adult Fans of LEGO. We walk through the specific decisions: closing the Billund theme park, licensing out…
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