Toymaker Lego appoints new chief executive

Lego has appointed Niels B. Christiansen to replace Bali Padda as chief executive, the Danish toymaker said on Thursday.

Christiansen was chief executive of the unlisted Danish thermostat maker Danfoss until last month, a position he took up in 2008.

Padda, who took over as chief executive for Lego eight months ago, was Lego's first foreign CEO.

Padda will take on a special advisory role with the LEGO Brand Group, the company said.