Fourth generation owner of the LEGO Group, Thomas Kirk Kristiansen, is moving from Deputy Chairman to Chairman of the Board of Directors.
Today, the LEGO Group has announced the company’s 2019 results. In addition, the news has been shared that Thomas Kirk Kristiansen will be the Chairman of the Board of Directors. It marks a continuation of the transition from the third generation owner, Kjeld Kirk Kristiansen to the fourth generation of the family. Thomas is the Kristiansen who will represent his family most actively within the company.
It had been expected that an outside appointee would become the Chairman of the Board, but this announcement sees the position continue to be occupied by a founding family member.
Søren Thorup Sørensen is CEO of KIRKBI A/S, the company responsible for the Kristiansen family’s investments. He will become Vice Chairman.
The LEGO Group’s annual results show an increase in profits, sales and revenue. When compared with 2018, revenue grew by 6% to DKK 38.5 billion (approx £4.5 billion). Operating profit increased by 1% to to DKK 10.8 billion (approx £1.25 billion) and net profit increased by 3% to DKK 8.3 billion (approx £970 million).