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

When did showing up become optional?

In 2009 Michelle Zatlyn co-founded Cloudflare, a tech startup that powers 45% of all Fortune 500 companies through solving problems that were keeping their leaders up at night. The surprising thing is, Michelle had no background in engineering. She developed an expertise through showing up, leveraged her own strengths to build a billion dollar business, and wrote a playbook all founders can learn from in the process.

Join host Jimmy Allen of Bain & Company and Michelle as they discuss the importance of solving problems that people care about, how to build teams that thrive off cross-functional collaboration, and how to balance delivery and development agendas throughout moments of hyperscale.

Michelle’s story highlights the importance of showing up. Not all leaders start off as experts, but they can become one through being in the room where it happens. How can founders push themselves to show up, even at times where they don't initially have the expertise?

This is a conversation about balancing delivery with growth, building a team that will drive progress through collaboration, and becoming an expert through showing up in the process.

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

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

EPISODE CHAPTERS

00:00 Introduction

00:48 No founder has the perfect skillset

02:31 Finding the right problem to solve

04:19 Building a customer-led tech company

06:42 How Michelle became an expert

08:15 The importance of showing up

12:37 Navigating moments of hyperscale

15:18 Scale demands decentralization

16:20 Empowering cross-functional collaboration

17:13 Protect the steady state, disrupt the status quo

18:30 Balancing delivery and development

19:35 How Cloudflare delivers and develops

21:43 Scale changes a founder's role

22:40 Recruiting for spiky capabilities

24:39 The Cloudflare way

26:10 Michelle's playbook

LINKS

A Beginner's Mindset: The Art of Showing Up - Jimmy Allen - Blog [https://tinyurl.com/TheArtOfShowingUp]

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/]

Michelle Zatlyn LinkedIn [https://www.linkedin.com/in/michellezatlyn/]

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

What does it take to build a business that can pass the purpose-driven test?

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

Before becoming group CEO and Office of the President at Mars, Poul Weihrauch led a generational transformation of Mars Pet Care that was defined by the things he didn’t do. Poul didn’t pursue a rapid integration or underestimate complexity, and he refined financial strategies by rejecting synergy. Through these unconventional leadership decisions Poul doubled Mars Pet Care’s size, and tripled its organic growth rate.

Join host Jimmy Allen of Bain & Company and Poul as they discuss the value of embracing complexity in the name of the customer, how growth doesn't necessarily require synergy, and how Poul built a leadership development program which not only strengthens his leaders but also underpins the company’s growth.

Poul’s story sets a powerful example for any CEO aiming to build a successful purpose-driven business. How can leaders enable a company to stay true to its purpose even during the most testing challenges?

This is a conversation about the importance of CEO restraint, embracing the complexity that comes with growth, and the role of a leader in building a company that can pass the purpose-driven test.

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

EPISODE CHAPTERS

00:00 Introduction

02:40 A trip to the graveyard

03:48 Moving purpose from the walls to decisions

05:54 Restructuring the leadership team

07:35 The role of communication

09:02 The engine one, engine two problem

10:46 Navigating complexity

12:31 Focus wins over synergy

14:53 Poul’s philosophy

16:12 Refusing synergy is a financial strategy

17:45 The founder dilemma

19:02 Poul’s pathfinders program

20:18 The value of cross-functional collaboration

21:20 Embracing complexity for the customer

23:00 The cyber attack

24:25 Living up to their purpose

25:56 What it means to be purpose-driven

27:25 Organization first, self last

29:45 The lessons Poul learnt

30:51 Poul’s most important stakeholders

32:03 The things Poul didn’t do

LINKS

A Graveyard of Good Intentions - Jimmy Allen - Blog [https://tinyurl.com/agraveyardofgoodintentions]

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/]

Poul Weihrauch LinkedIn [https://www.linkedin.com/in/poulweihrauch/]

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

What does it take to lead a fragmented business through disruptive transformation?

When she joined The Economist as Group CEO, Lara Boro faced a divided company, metaphorically, and physically. She quickly won the confidence of the board, by writing off a £12 million, four year long transformation project, and showing that its replacement wouldn’t need a single pound of investment. It could actually fund itself. Through strategic and purpose-based leadership, Lara solidified her legacy of being the person who was able to finally bring two sides of the business together.

Join host Jimmy Allen of Bain & Company and Lara as they discuss the importance of striving for simplification at pace, how culture helped her team embrace an ambitious digital transformation, and how she brought the business together through dissecting one foundational question: what is The Economist?

Lara’s journey also highlights the value of building for the customer. How can analyzing customer data shape budgets and provide strategic direction?

This is a conversation about the role of a leader in guiding teams through positive disruption, leveraging customer data to shape business strategy, and ensuring every part of a team strives for success together.

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

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

EPISODE CHAPTERS

00:00 Introduction

01:19 Arriving to a cultural divide

02:53 The gap between the editorial and the business

04:36 Understanding the issues from both sides

05:37 Journalism is independent, but not from the business

06:27 Lara's playbook - reframing the business strategy

07:35 Starting by understanding the customer

08:30 Customer data helps improve efficiency

09:42 Writing off £12 million and four years of work

11:50 Why Lara used the phrase "self funding"

13:19 The when, the how, and the little wins

14:25 Momentum matters most

15:35 Mixing pace with simplicity

16:44 Building a culture that eases tension

18:06 Maintaining principles in the face of AI

19:35 Discovering new perspectives through debate

20:44 Expression may change, but culture stays the same

21:40 What is The Economist?

23:32 Convincing the right people to join

24:27 Lara’s legacy: bringing The Economist together

25:22 The people who believed in Lara

26:44 The grand reframe

LINKS

The Most Successful Cultural Change Programs Never, Ever Discuss Cultural Change - Jimmy Allen - Blog [https://tinyurl.com/CEOCulturalChange]

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/]

Lara Boro LinkedIn [https://www.linkedin.com/in/lara-salameh-boro-4a16405/]

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

How will AI impact the business I have spent years building?

When Sal Khan, CEO and founder of Khan Academy, was confronted with this question in 2023 he didn’t wait for someone to answer, he learned quickly and built the outcome he wanted. The result was a personalized learning model that enhanced education for 200 million users across the world.

Join host Jimmy Allen of Bain & Company and Sal as they discuss how to embrace the discomfort of navigating disruption, the importance of relearning how to learn, and how CEOs can use AI to strengthen their competitive positions.

Sal also reveals the promise he made to his team - if they’re creating AI that can automate their roles they won’t be replaced, they will be promoted. How can leaders find new ways to drive productivity amid the uncertainty surrounding AI?

This is a conversation about turning disruption into new opportunities, how curiosity can help us navigate the unknown, and how leaders can leverage AI to set their businesses apart.

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

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

EPISODE CHAPTERS
00:00 Introduction
02:22 The astonishing ability of emerging AI
03:21 Experimenting with an early AI model
04:14 Turning fears into features
04:56 Sal’s quick decision to adopt AI
05:46 The concerns of AI in education
07:04 Sal’s symbiosis with AI developers
07:57 Why Khan Academy had to understand AI
08:32 How Sal seized the opportunity of disruptive technologies
09:22 Getting the team on board through confronting risks
10:05 Preparing to launch
10:34 The need for a responsible actor becomes clear
11:56 How Sal built his tiger team
13:17 How Sal’s mentality helps embrace AI uncertainty
15:23 Learning how to learn again
16:11 Helping people learn in the right ways with AI
18:05 How AI facilitates a deeper education
19:08 The choice: to thrive with AI, or to be replaced by AI
19:55 Three key things about learning with AI
20:36 Sal’s promise
20:55 A CEO’s guide to using AI
24:03 The fundamental question answered by Sal’s journey
25:28 What is personalized mastery education
28:21 How AI facilitates Khan Academy's personalized learning model
28:50 Gaining the conviction to adopt AI
29:54 When conviction turns into validation
30:37 What we can learn from Sal’s journey

LINKS
A Scorecard on our 3 AI Journeys - Jimmy Allen - Blog [https://tinyurl.com/AIJourneyScorecard]
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/]
Sal Khan LinkedIn [https://www.linkedin.com/in/khanacademy/]

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

What does it take to expand worldwide without losing sight of the things that matter most?

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

Daniel Servitje is the executive chairman of Grupo Bimbo, an organization that rose from a small bakery to become one of the largest food corporations in the world. Since taking over in 1997, Daniel has overseen 900% growth and expansion into multiple international markets. Yesterday, he was on a bread truck.

Join host Jimmy Allen of Bain & Company and Daniel as they discuss how robust cultures are developed in the field, the long-term value of choosing patience over urgency, and how to navigate building new systems whilst ensuring existing ones continue to function.

Daniel shares a vital tip for any CEO looking to develop their own business - never let growth separate you from the people that matter. Who really shapes the culture of a successful company? How can a field mentality help leaders grow their businesses?

This is a conversation about the importance of a long-term perspective, knowing how to build a strong culture from the field, and the role of a leader in driving successful growth.

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

EPISODE CHAPTERS

00:00 Introduction

01:32 An inspiring visit to the bakery

02:46 Listening to voices across the company

04:01 What Daniel learned from the annual conference

05:10 Big ideas come from examining the small things

06:27 Building a culture that starts from the field

07:22 What it takes to develop internationally

08:04 How Grupo Bimbo went international successfully

09:35 Developing a global culture

11:33 Culture is built by actions, not by words

12:46 With growth comes opportunity, but also complexity

14:10 Why leaders need to break processes and take risks

16:54 Don’t get trapped by old systems

18:37 How to transform a company whilst running it

19:47 The importance of long term thinking

20:54 Sometimes slower is better

21:52 Balancing the systems paradox

22:38 Daniel's leading mentality

23:36 Getting energy from curiosity

25:30 Finding the right people to diffuse your energy

26:44 Why the source of your energy really matters

27:44 Daniel's recipe for successful growth

LINKS

A Case for Complexity - Jimmy Allen - Blog [https://tinyurl.com/thepowerofrenewal]

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/]

Daniel Servitje LinkedIn [https://www.linkedin.com/in/danielservitje/]

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.

Bain & Company

Founder’s Mentality: The CEO Sessions is brought to you by Bain & Company, a global consultancy trusted by the world’s most influential business leaders. With decades of experience guiding organizations through growth, transformation, and leadership development, Bain’s executive insights offer what it takes to lead at scale.

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