Lego appoints new CEO, replaces interim boss

COPENHAGEN, Denmark (AP) — Danish toy company Lego says it has appointed Niels B. Christiansen, who headed thermostat-maker Danfoss for nine years, as its chief executive.

Lego chairman Joergen Vig Knudstorp said Thursday that Christiansen replaces Bali Padda, who took over as interim CEO in January. Padda will hold a "special advisory" role within the group.

Vig Knudstorp said Christiansen, 51, will start Oct. 1.

In March, Lego said its 2016 revenue grew 6 percent to 37.9 billion kroner ($6 billion), the highest figure in the company's 85-year history. The privately held group's net profit rose to 9.4 billion kroner ($1.5 billion).