Making the Most of Hungary’s Unique Expat CEO Community

BBJ: What went through your mind when Veronika read out your name?

Chresten Bruun: “Unbelievable!” That was my first thought. But very soon after that, I started having a feeling of being happy for this recognition from the jury and I felt it was coming from the entire expat community in Hungary. Then I felt the pressure of making my thank you speech! As I started speaking, it became crucial for me to make the point that this is not only an award for me but for the entire expat community in Hungary and, last but not least, to all our employees back in the Lego Factory in Nyíregyháza. And at the end of my speech, I just felt very privileged to be a part of all of this. I would never have been able to experience this if I had “just” stayed in a job with the Lego Group in Denmark and not taken on the challenge of going to Hungary as an expat.

BBJ: As you’ve already indicated, you are the first to recognize this isn’t a solo effort. What message do you think winning the title sends to your team?

CB: It is not a solo ride, for sure. I’m thriving as part of a team. And, together with all the employees in Nyíregyháza, we are one Lego team in the factory. Winning the title sends a message to the entire team that we did something great since one of the team can receive this award on behalf of all of us. What we did as a team was recognized outside the factory, by externals, and was evaluated to be so good it won an award!

BBJ: It was clear you received a lot of support at the gala. What do you think of this expat CEO community?

CB: It is a unique community to be part of. Everyone is open to sharing experiences, and there is no feeling of competition. It is about supporting each other. I’m unaware of a similar community elsewhere, so I think it is unique to Hungary. So, I am grateful the founders of this community and award, the Budapest Business Journal and their official event partner, the Hungarian Investment Promotion Agency.

It is a community with a high degree of diversity of nationality, gender, age, length of experience, educational background, religion, and so on. But still, everyone seems so open, and the dialogue is all about curiosity, not judging. I met so many people during the evening and night, and I hope I can return some of the support and good comments I received back to this community.

BBJ: Not that winning this award affects this, but what plans do you have for the business in Hungary for 2024 and the next couple of years?

CB: We will continue to nurture and develop our company culture in the Lego Group here in Hungary. We believe we have a unique opportunity because we are manufacturing a play experience that gives learning through play to millions of kids. Another opportunity comes from our origin in Denmark and Scandinavia, places with a team-oriented leadership culture and a low hierarchical structure. Lastly, we are a family-owned company, with the fourth-generation owner, Thomas Kirk Kristiansen, as the chairman of the board.

We continue to expand our operation here in Hungary. This year, we will inaugurate a new packing facility and a high bay warehouse. We will also continue to deliver on our ambition to become more sustainable by phasing out single-use plastic (using paper instead of plastic in the bags containing our bricks inside our Lego boxes) and installing more solar panels to produce electricity. We will also start phasing out natural gas by utilizing geothermal energy.

BBJ: What are the most significant challenges to doing business in Hungary in 2024?

CB: Based on last year’s experience, it is essential that inflation continues to be reduced to the same level as other EU countries. Inflation has proved a significant challenge, because it also reduced the buying power of the wages and salaries of our employees. It also impacts the cost level of running the operation here in Hungary and, thereby, our competitiveness.

That aside, the geopolitical risk is also a great challenge as the war between Russia and our neighbors in Ukraine, particularly, leaves us with a high degree of uncertainty for running our business. A third challenge is the lack of skilled workforce in certain areas. The need for skilled workers grows faster than the available workforce can keep pace with.

BBJ: We don’t want to be purely negative. What are the opportunities the country offers?

CB: We experience a very positive business environment generated by the local authorities, the government, HIPA and many other business partners. This is an opportunity for Hungary.

BBJ: Finally, I am sure you would like to say something about your two runners-up: Arne Klehn, multi-property general manager of Budapest Marriott Hotel, and Raffaella Claudia Bondi, pharmaceutical executive and general manager of Roche.

CB: I’m very impressed with the two other candidates. They are very competent within their area of responsibility. They would have been equally deserving winners of this award. I hope they feel they have a share in this year’s success because just the fact of being nominated itself is a massive recognition for all three of us.

This article was first published in the Budapest Business Journal print issue of April 19, 2024.