COO Rises to CEO at Lego

Bali Padda is getting a leg up at The Lego Group.

Currently chief operations officer, Padda will be take over as CEO on Jan. 1, 2017. He'll take the reins from Jørgen Vig Knudstorp, who has been tapped to lead the new Lego Brand Group entity that will manage and develop ancillary opportunities for the venerated brand.

Padda has been with the Danish toymaker for 14 years, and has been praised by company executives for his supply chain acumen as well as his organizational development.

Padda's appointment reflects a recent business trend in which supply chain veterans are ascending to the CEO role, according to Forbes.