Word: legoland
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Dates: during 2000-2009
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...children increasingly prefer Xboxes to plastic blocks; sales in Japan and the U.S. have been unexpectedly sluggish; and the company suffers from overcapacity in a low-growth industry. Trying to refocus on its core business, the 72-year-old company is even considering selling such assets as the Legoland parks. CEO Kjeld Kirk Kristiansen, grandson of Lego's founder, has had enough. He is handing the reins to Knudstorp, 35, a business economics Ph.D. who has been with Lego for only three years. His charge: to restructure the company and guide it back to profitability. Let the games begin...