HELO1{"id":104461,"date":"2021-03-10T16:24:46","date_gmt":"2021-03-10T16:24:46","guid":{"rendered":"https:\/\/www.brickfanatics.com\/?p=104461"},"modified":"2021-03-10T17:54:50","modified_gmt":"2021-03-10T17:54:50","slug":"how-much-did-legos-ceo-and-board-of-directors-earn-in-2020","status":"publish","type":"post","link":"https:\/\/www.brickfanatics.com\/how-much-did-legos-ceo-and-board-of-directors-earn-in-2020","title":{"rendered":"How much did LEGO’s CEO and Board of Directors earn in 2020?","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n

The LEGO<\/a> Group’s annual financial report has revealed that its CEO and Board of Directors received a huge 40% pay increase in 2020.<\/p>\n\n\n\n

In 2019, remuneration awarded to CEO Niels B. Christiansen and the Board of Directors collectively totalled 31 million DKK (around \u00a33.57 million), representing a 22.5% drop on 2018. Last year, however, that number increased by almost 40% \u2013 or 20 million DKK (\u00a32.3 million) \u2013 to 51 million DKK (\u00a35.87 million).<\/p>\n\n\n\n

That\u2019s reflective of the company\u2019s wider financial performance<\/a> in 2020, which saw sales skyrocket by 21%, and net profit soar by 19%. The percentage increase of the board\u2019s salaries far outweighs those figures, of course, but that boost in profits equals 1.6 billion DKK (\u00a3184 million) in real terms. By comparison, \u00a32.3 million perhaps isn\u2019t too egregious \u2013 at least compared to 2019.<\/p>\n\n\n\n

We don\u2019t know the exact breakdown for the entire Board of Directors and CEO, as the only figure provided in the annual report applies to them as a collective, in line with the Danish Financial Statements Act.<\/p>\n\n\n\n

We do know, however, that the company paid out an eye-watering 128 million DKK (\u00a314.7 million) to its Executive Leadership Team, which consisted of 10 people by the end of the year (and nine on average over the course of the year).<\/p>\n\n\n\n

That figure accounts for salaries, pensions, short-term incentive plans (based on annual performance), long-term incentive plans (based on \u2013 you guessed it \u2013 long-term goals), and one-off payments including severance packages.<\/p>\n\n\n\n

Compared to the CEO and Board of Directors, though, it\u2019s only a minor increase on the year previous: in 2019, the company\u2019s execs received 124 million DKK (\u00a314.3 million). Either way, that\u2019s still a huge chunk of change, directly facilitated by how much LEGO<\/a> we\u2019ve all been buying for the past year.<\/p>\n\n\n\n

Click here<\/a> for our breakdown of the LEGO<\/a> Group\u2019s profits and expenditure in 2020, or dive into the full annual report here<\/a>.<\/p>\n\n\n\n

Support the work that\u00a0Brick Fanatics<\/em>\u00a0does by purchasing your\u00a0LEGO<\/a>\u00a0through one of our\u00a0 affiliate links<\/a>.<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"