Jorgen Vig Knudstorp was hired in 2004 to save LEGO from bankruptcy as the first non-family CEO. He stripped down unnecessary parts of the business, changed senior designers to LEGO fans, and reinvigorated the company's vision. Through strategic decisions like outsourcing and partnerships on films, Knudstorp led LEGO to profitability within a few years and it has continued to grow successfully. The document discusses his background, strategies for turning LEGO around, and analysis of his leadership competencies and philosophies that made him an effective role model as an entrepreneur.