Latest / Boardroom Conversations with Fexingo: CEOs, Strategy, and Corporate Leadership Explained
How the LEGO Board Rebuilt Trust After Near Bankruptcy
In the early 2000s, LEGO was bleeding cash, losing $337 million in 2003 alone, with debt exceeding $800 million. Its board faced a crisis: decades of diversification into theme parks, video games, and apparel had diluted the brand. This episode dissects how LEGO's board, led by then-CEO Jørgen Vig Knudstorp, implemented a radical turnaround by refocusing on the core brick, divesting non-core assets, and installing financial controls that restored profitability within two years. We examine the specific board-level decisions—from appointing a young CEO to restructuring the supply…
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