COPENHAGEN, Denmark – The family that founded and owns Lego, the maker of the popular multi-colored toy building bricks, is reshuffling its top leadership to create a "smooth handover of active ownership to the next generation."
Kjeld Kirk Kristiansen, the company founder's grandson, says he will leave his position as deputy chairman to his 37-year-old son, Thomas Kirk Kristiansen. The 68-year-old father will take a seat on the board.
Kjeld Kirk Kristiansen said Thursday the aim was "to maintain active family ownership of the LEGO Group."
After 25 years as CEO, Kjeld Kirk Kristiansen was replaced in 2004 by Joergen Vig Knudstorp, who helped bring Lego A/S from a loss to a profit.