IKEA founder resigns from all duties | RetailDetail

IKEA founder resigns from all duties

IKEA founder resigns from all duties

Ingvar Kamprad, the founder of IKEA, has resigned from all his formal duties within the company, the first time ever that Kamprad plays no role in its board.

No official successor

Kamprad was still active in two foundations which own parts of IKEA, but he has resigned from both institutions as well, something that had already been done sometime last year, but the news only leaked out now through the Financial Times. However, he remains an informal advisor to the Ikea Group's board.

 

Kamprad had already passed on a lot of responsibilities onto his sons these past 10 years and an IKEA spokesperson declared it to be the final step in passing the torch to a new generation. There is some form of uncertainty within the company as no official successor has been appointed, but everyone expects that one of Kamprad's three sons will be appointed to become his successor.

 

Ingvar Kamprad founded Ikea in 1943 and the company became world famous when it packaged its furniture in packages to lower the costs.

Questions or comments? Please feel free to contact the editors


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.

Considerably lower profit for DIY giant Kingfisher

22/03/2018

British DIY chain Kingfisher’s net profit dropped more than 20 % in the past fiscal year because of a restructuring plan in its native land and weak French sales.

Made.com attracts 45 million euro

19/03/2018

Online furniture shop Made.com has attracted 45 million euro in a new investment round, which will be used to strengthen its position in current markets and to expand to new European markets.