IKEA founder Ingvar Kamprad passes on the torch | RetailDetail

IKEA founder Ingvar Kamprad passes on the torch

IKEA founder Ingvar Kamprad passes on the torch

The founder of IKEA is letting go of his brainchild a little bit more: Ingvar Kamprad is quitting the board of directors of the core company of the Swedish furniture empire, now his youngest son Mathias has become its chairman.

Mathias Kamprad new chairman board of directors

The founder of IKEA is quitting as a member of the board of directors of Inter Ikea Group, the company within the empire that owns the brand and the concept. Mathias Kamprad was already a member of the board of directors, but is now taking over the role of chairman from Per Ludvigsson, who will retire at age seventy.

 

“I see this as a good time for me to leave the board of Inter IKEA Group. By that we are also taking another step in the generation shift that has been ongoing for some years”, said Ingvar Kamprad.

 

Not completely on the side-lines

Yet Ingvar Kamprad is not completely put on the side-lines: he remains involved with the Dutch foundation Ingka, which owns 302 of 343 shops worldwide. He also still works in Liechtenstein, in another branch of the IKEA empire's tangle of companies and foundations.

 

Kamprad is already 87 years old: he founded IKEA seventy years ago and was CEO until 1986. After that he limited himself to his role in a few boards of the group. His two other sons, Jonas and Peter, also have managerial positions at the company.

Questions or comments? Please feel free to contact the editors


Ikea plans to cut 150 jobs, including in Belgium and the Netherlands

04/05/2018

Ikea will be cutting 150 jobs, some of them in the Belgian and Dutch branches as well. The plan is part of a major reorganisation effort to help prepare the furniture giant for the growing competition of large e-commerce players.

Beter Bed suffers from poor German results

02/05/2018

Dutch mattresses group Beter Bed Holding saw its first quarter turnover drop 4 % compared to last year. Turnover went down in Germany, where a poison scandal forced results down by 12 %, but Switzerland and Spain performed even worse.

Jysk targets 100 Belgian stores

23/04/2018

Danish Jysk will open another eleven stores in Belgium in 2018, bringing its total to seventeen. The Danish counterpart to Ikea aims to have about 100 stores in Belgium at some point.

Carpetright shuts down 20 % of its UK stores

13/04/2018

Carpetright, caught in a downward spiral in the past year, will shut down a fifth of its stores in Great Britain in order to remain afloat. 300 people will subsequently lose their job.

Ikea plans city store in heart of Paris

10/04/2018

Ikea is fully focused on becoming a global presence in urban centers. The furniture chain is currently looking for locations in Paris, Copenhagen, London and Southeast Asia to attract broader audiences with smaller stores.

“Ikea deducted a billion euro too much from its taxes”

29/03/2018

In the past six years, Ikea unlawfully deducted about one billion euro from its taxes according to the European Commission’s preliminary findings. The EC launched an investigation into the Swedish company’s deal with the Dutch treasury.