Ikea names new CEO

Ikea Group has named company veteran Jesper Brodin its new president and CEO, effective in September.

Brodin currently is managing director of Ikea of Sweden, responsible for the development of product and supply chain. He will replace 22-year Ikea veteran Peter Angnefjall, who has led the business since 2012.

In a release, Ikea Group Chairman Lars-Johan Jarnheimer said Brodin’s “extensive experience and passion for life at home and retailing will enable him to successfully continue the remarkable work conducted by Perter Agnefjall.”
“Under Peter’s leadership, Ikea Group has expanded into new and crucial markets, accelerated our retail transformations in order to meet the changing needs of customers and taken our sustainability commitments further,” he said. “I look forward to working with Jesper as we take our next steps in becoming the world’s leading multichannel home furnishings retailers for the many people.”

Agnefjall said he plans to take time off with his family before embarking on “my next journey.”

Ikea’s now 43-store U.S. operation is No. 3 on Furniture Today’s just released Top 100, with estimated furniture bedding and accessory sales of $3.2 billion and total revenue of $5.2 billion for its fiscal year ended Aug. 31. That doesn’t include the retailer’s worldwide sales at more than 390 stores in 48 countries.

The company said it is strengthening integration of is stores and e-commerce platform and in the coming year will open stores in new markets, including India.