Lego CEO Niels B. Christiansen's ratings sink as the toy maker's struggles continue
The year is 1949, Danish toymaker and carpenter Ole Christiansen has an idea that will go on to become one of the best-selling toys of all time. His idea, the interconnecting brick construction toy we now call ‘lego’, is now a multi-national company that has made over 400 billion Lego bricks since 1958. The Lego company ($LEGO) now produces feature-length movies, videogames, and has licenses to everything from Star Wars to Pirates of the Caribbean.
However, not all is well for the toy maker, in March this year Lego reported an 8% drop in sales for 2017. It is the first drop in sales for the company since 2003, when Lego came close to total collapse. Sales reveune dropped to around 35bn Danish kroner (thats about $5.8bn). A Lego spokesperson admited to the BBC that the company had produced 'too many bricks' and couldnt find enough retail space for its products, leading to alot of stock sitting in warehouses and being solded at lower prices.
Looking at average Glassdoor ratings for Lego Groups current CEO, Niels B. Christiansen, grandson of Ole Christiansen, things don’t look positive. Christiansen’s approval rating among his employees has dropped 40% since his start in October 2017.
Looking at Glassdoors tracking of employee outlook, the downturn continues, just 39% of LEGO group employees have a positive outlook on the future of the business.
The poor business outlook comes despite new innovation from the company, such as new bricks made of a plant-based plastic sourced from sugarcane which are designed to be more sustainable than the conventional plastic used in their normal bricks.
Poor employee morale could also be attributed to the 1,400 jobs that were cut by the Danish company in 2017, and despite numbers rising again in the late half of 2017 and early 2018, May saw another dip in the number of people reporting The LEGO Group as their employer.
The job cuts likely come as a result of the aforementioned 8% drop in sales. In fact, looking at the best-selling Toys and games on Amazon in the past 30 days, LEGO only has only entry in the top 20 at number 18.
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|Exploding Kittens Card Game||Exploding Kittens LLC||Toys & Games||1||$19.99|
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|Cards Against Humanity||Cards Against Humanity LLC.||Toys & Games||4||$25.00|
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|L.O.L. Surprise! Confetti Pop-Series 3 Collectible Dolls||L.O.L. Surprise!||Toys & Games||10||$12.88|
|Hatchimals CollEGGtibles||Hatchimals||Toys & Games||11||$18.85|
|Nerf Official N-Strike Elite Strongarm Blaster (Amazon Exclusive)||Nerf||Toys & Games||12||$12.99|
|Jenga||Hasbro||Toys & Games||13||$16.99|
|Hatchimals CollEGGtibles Season 2 - 4-Pack||Hatchimals||Toys & Games||14||$8.89|
|Exploding Kittens: NSFW Edition||Exploding Kittens LLC||Toys & Games||15||$19.99|
|Intex Unicorn Inflatable Ride-On Pool Float||Intex||Toys & Games||16||$18.99|
|Intex Floating Recliner Inflatable Lounge||Intex||Toys & Games||17||$21.99|
|LEGO Friends Heartlake City Playground 41325 Building Kit (326 Piece)||LEGO||Toys & Games||18||$53.00|
|Mattel UNO Card Game||Mattel Games||Toys & Games||19||$4.77|
|Imploding Kittens: This is the First Expansion of Exploding Kittens||Exploding Kittens LLC||Toys & Games||20||$14.99|