How did an “unqualified” CEO lead a turnaround that transformed our childhoods forever?

When he became CEO of the LEGO Group in 2004, Jørgen Vig Knudstorp was, in both his own words and his customers’ words, “unqualified” for the job. Twelve years later, Jørgen stepped down as CEO having not only engineered a financial turnaround, but having also cemented LEGO’s position at the centre of cultural relevance. Now, Jørgen reflects on his journey with an invaluable perspective that has been shaped by a decade of experience on multiple boards, and shares the key factors that enabled him to grow LEGO into the world’s leading toy company.

Join host Jimmy Allen of Bain & Company and Jørgen as they discuss why you should hire a team that’s better than you, share advice for how a CEO should handle their board, and answer a simple but fundamental question that shaped Jørgen’s success: what can only the CEO do?

Jørgen also shares a warning for his listeners: beware the all-in CEO. How can leaders find a work-life-balance on top of balancing their work inside the firm, to ensure they have enough free capacity to address important and unforeseeable things when they come up?

This is a conversation about the beauty of making mistakes and the importance of understanding your role, that serves as a set of instructions for becoming the leader every firm needs.

>>> LISTENER SURVEY: Share your thoughts at https://www.podpolls.com/founder

https://www.bain.com/founders-mentality/

EPISODE CHAPTERS

00:00 Introduction

01:53 The "unqualified" CEO

02:54 The process of discovery

04:15 Jørgen's invaluable perspective

05:12 Conversations with the family owner

07:32 The fundamental question

08:30 Three key answers

09:32 What can only a CEO do?

10:57 What should a CEO do?

12:42 What Jørgen initially wanted for LEGO

13:27 The importance of listening to customers

14:12 Get your ego out of the way

14:53 Build teams that are better than you

17:12 The benefits of getting out of the way

17:57 Three important lessons from Jørgen

19:39 What is a good board member's job?

20:55 Jørgen’s board member philosophy

21:49 Jørgen's 95%, 5% rule

23:22 How to work with sparring partners

24:18 Jørgen's advice to CEOs about the board

25:24 Learnings from both sides of the table

27:12 How a CEO should handle their board

27:57 Beware of the all-in CEO

29:31 Reflecting on the journey 10 years on

30:35 The beauty of making mistakes

31:16 Instructions for becoming a better leader

LINKS

Focus. Upgrade. - Blog - Jimmy Allen [https://tinyurl.com/Focus-Upgrade]

Bain & Company LinkedIn [https://www.linkedin.com/company/bain-and-company/]

Bain & Company X [https://x.com/BainandCompany]

Jimmy Allen LinkedIn [https://www.linkedin.com/in/james-allen-3442b/]

About the Host:

Jimmy Allen is an Advisory Partner at Bain & Company with over 35 years’ experience advising leading organizations. He’s the author of multiple best-selling books on growth and leadership and the host and founder of Bain’s Global CEO Community Forum. Jimmy is a regular speaker at global business events, including the World Economic Forum, and serves on the Botswana Economic Advisory Council. Outside of consulting, Jimmy started his own record label [Abubilla Music] in 2008 and supports Singing Wells, a project dedicated to preserving Kenyan village music.

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Fill out our short listener survey, and help us form the future of the show
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What can a CEO of a firm learn from a milk co-op?

Peder Tuborgh joined Arla Foods as a marketeer, so no one expected that his first move as CEO would be to unite most of the company’s 100 brands under one name. But Peder’s purpose was clear. He built a shared conviction within Arla and developed a value proposition that has guided the company through two decades of turbulence and landmark mergers, all whilst driving relentless growth. Needless to say, there is a lot we can learn from the way Peder leads at Arla.

Join host Jimmy Allen of Bain & Company and Peder as they discuss the importance of focusing on volume growth, the power of thinking beyond the boundaries of a firm, and how Peder balances his ingenious value framework to build resilience within his team.

Peder emphasizes the dangers of looking too far into the future. Does a ten-year mindset take away from the work we’re doing today? How can leaders combine today’s values with tomorrow’s goals to build a company that can thrive in turbulence?

This is a conversation about value building and people driven leadership that redefines what strategy means.

>>> LISTENER SURVEY: Share your thoughts at https://www.podpolls.com/founder

https://www.bain.com/founders-mentality/

EPISODE CHAPTERS
00:00 Introduction
02:42 Launching the Arla brand
04:18 Betting on people
05:41 Growth is in Arla's DNA
07:42 The power of keeping it simple
08:51 Envision, engage, deliver
10:37 Engaging stakeholders
13:10 The importance of volume growth
15:10 How Arla's values help navigate turbulence
17:40 Balancing the value framework
19:47 Arla's DNA is not for discussion
20:23 Building resilience through values
22:47 The art of Peder's value framework
23:58 Bringing the future into today
25:56 How Peder has changed
28:06 The importance of meaning
29:40 The lessons we can all learn from Peder
31:23 Thinking beyond the boundaries of the firm

LINKS
Bain & Company LinkedIn [https://www.linkedin.com/company/bain-and-company/]
Bain & Company X [https://x.com/BainandCompany]
Jimmy Allen LinkedIn [https://www.linkedin.com/in/james-allen-3442b/]
Peder Tuborgh LinkedIn [https://www.linkedin.com/in/peder-tuborgh-aba04935/]

About the Host:
Jimmy Allen is an Advisory Partner at Bain & Company with over 35 years’ experience advising leading organizations. He’s the author of multiple best-selling books on growth and leadership and the host and founder of Bain’s Global CEO Community Forum. Jimmy is a regular speaker at global business events, including the World Economic Forum, and serves on the Botswana Economic Advisory Council. Outside of consulting, Jimmy started his own record label [Abubilla Music] in 2008 and supports Singing Wells, a project dedicated to preserving Kenyan village music.

>>> Have your say!
Fill out our short listener survey, and help us form the future of the show
https://www.podpolls.com/founder

How do you grow a billion dollar business in the face of extreme turbulence?

Bruno Lasansky is CEO of Localiza&Co, a Brazilian car rental company that began with just six secondhand VW Beetles in 1973. From surging interest rates to industry altering government policies, there are few companies that have faced adversity quite like Localiza. But for Bruno, turbulence is not something to be scared of. Under his leadership, Localiza&Co has become South America's largest mobility network, and today, it has more than 600,000 cars.

Join host Jimmy Allen of Bain & Company and Bruno as they discuss Bruno’s playbook for the perfect storm: how to unleash the power of the unvarnished truth, how to balance pace and strategy to address turbulence face on, and the importance of culture in fuelling growth that will last for the long run.

Bruno emphasizes the fact that success is not all about winning. Why should a leader shift their mentality away from winning, and towards valuing what they will learn along the journey?

This is a conversation about transparency, discipline, and becoming a leader that not only guides teams through unforeseeable adversity, but sets them up to thrive before turbulence even arrives.

>>> LISTENER SURVEY: Share your thoughts at https://www.podpolls.com/founder

https://www.bain.com/founders-mentality/

EPISODE CHAPTERS

00:00 Introduction

02:03 The perfect storm

03:05 The turbulence Bruno was facing

04:43 Resisting the typical temptations

06:55 Strategy starts with a reality check

07:39 Next comes the point of arrival

09:38 How Bruno leads through turbulence

10:13 The importance of adapting fast

11:19 Responding to the unvarnished truth

12:43 The importance of transparency

13:55 Be prepared to exit when it’s necessary

14:28 Never forget the customers or the team

15:57 The power of people, culture, and the mission

17:43 Bruno's acid test

19:05 Entering turbulence with a full battery

21:13 Bruno’s biggest lesson

23:32 Winning is a consequence, not the main goal

25:24 The things that drive Bruno

26:43 Bruno's perfect storm playbook

LINKS

The Fifth New Rule of Scaling: Fall Back in Love with Process - Jimmy Allen - Blog [https://tinyurl.com/FallBackInLoveWithProcess]

Bain & Company LinkedIn [https://www.linkedin.com/company/bain-and-company/]

Bain & Company X [https://x.com/BainandCompany]

Jimmy Allen LinkedIn [https://www.linkedin.com/in/james-allen-3442b/]

Bruno Lasansky LinkedIn [https://www.linkedin.com/in/brunolasansky/]

About the Host:

Jimmy Allen is an Advisory Partner at Bain & Company with over 35 years’ experience advising leading organizations. He’s the author of multiple best-selling books on growth and leadership and the host and founder of Bain’s Global CEO Community Forum. Jimmy is a regular speaker at global business events, including the World Economic Forum, and serves on the Botswana Economic Advisory Council. Outside of consulting, Jimmy started his own record label [Abubilla Music] in 2008 and supports Singing Wells, a project dedicated to preserving Kenyan village music.

>>> Have your say!
Fill out our short listener survey, and help us form the future of the show
https://www.podpolls.com/founder