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2w ago

Ingka Group Names Juvencio Maeztu as First Non-Swedish CEO

Ingka Group plans a phased leadership handover to maintain Ikea’s low-price strategy ahead of Jesper Brodin’s advisory role next February.

De izquierda a derecha, el actual director ejecutivo de Ikea, Jesper Brodin, junto al español Juvencio Maetzu, actual número dos del grupo y futuro CEO.
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Overview

  • Juvencio Maeztu will formally assume the roles of CEO and chair on November 5, 2025, in a planned internal succession at Ingka Group.
  • Maeztu, who has spent about 25 years at Ikea in positions from Spanish store director to CFO and deputy CEO and led Ikea India from 2012 to 2018, breaks the tradition of Swedish leadership in the unit that generates roughly 90% of Ikea’s revenues.
  • Outgoing CEO Jesper Brodin will stay with Ingka Group through the end of February 2026 to ensure a smooth transition before joining the Ikea Foundation as a senior adviser.
  • Supervisory board chair Lars-Johan Jarnheimer highlighted Maeztu’s extensive retail experience and commitment to affordability as key to navigating shifts in consumer behavior and supply chains.
  • Ingka Group, which operates Ikea Retail in 31 markets and manages both physical and online stores under franchise with Inter Ikea Systems, also oversees Ingka Centres and Ingka Investments divisions.