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What was the main challenge Jørgen Vig Knudstorp faced when he became the CEO of the Lego Group?

  • Financial difficulties

  • Product recalls

  • Labor strikes

  • Legal disputes

Answer

When Jørgen Vig Knudstorp became the CEO of the Lego Group in 2004, the company was facing significant financial difficulties. He implemented a turnaround strategy that included cost-cutting measures, refocusing on core products, and fostering innovation. These efforts helped the company regain its financial stability and become one of the world's most successful toy manufacturers.
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