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Toymaker Lego names new chief executive

dpa logodpa 6/12/2016

Bali Padda will take over as chief executive of the family-owned Lego Group from Jorgen Vig Knudstorp as of January 1.

Danish toy company Lego, known worldwide for its plastic building blocks, has appointed a new chief executive.

Bali Padda takes over as chief executive of the family-owned Lego Group from Jorgen Vig Knudstorp as of January 1.

Padda, who has worked 14 years at Lego, is currently chief operations officer and said the appointment was "a huge and exciting task."

Knudstorp who has been Lego boss since 2004, was to head a new entity, Lego Brand Group, aimed at focusing on protecting and developing the toymaker's brand.

He was to work closely with Thomas Kirk Kristiansen of the owner family and was nominated to be new president of the company board as of May, a statement read.

Founded 1932, Lego is one of the world's leading toymakers. It reported a 10-per-cent rise in turnover for the first half of 2016.

Net profit for the six-month period was 3.48 billion kroner ($US524 million dollars), slightly down on the corresponding 2015 period.

The group has about 15,000 employees. Production is based in Denmark, the Czech Republic, Hungary, Mexico, and China.

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