Inga Group, the holding company that runs most of IKEA stores in the world, has appointed the next CEO, Juvenccio Maeztu, the first non -poor driving group.
As of November 5, Maeztu Jesper BRODIN, which will step down after eight years. Under Broaden, the Ingeka Group has succeeded in the challenges of global epidemic and trade in Covid-19 with the expansion of e-commerce business in IKEA and setting new goals to reduce emissions.
The Executive Officer will be assigned to plan a renewable strategy for growth after the price cuts designed to reduce the livelihoods of shoppers that led to a decrease in revenues and profits.
Maeztu, 57, who does not speak Al Suwaidi, was born in Cádiz in southern Spain, his career as director of the Alcorcón store in IKEA in Madrid in 2001, and moved to its location in Seville in 2003, before promoting to the director of rural resources for Spain and orange. In 2009, he returned to store operations, and took over the pioneering IKEA website in the Wembley area in London. Until 2012, he was not entered the executive ranks, when he was appointed CEO of Ikea India. In 2018, he became the CEO and financial manager of the Group Holding Company.
As CEO, Maeztu will supervise approximately 400 IKEA stores, which represents approximately 80 % of the global retail network and about 90 % of total sales in 30 countries. After a long period of high costs due to raw materials, commodities and logistics, the furniture giant reduced wholesaler prices by average on average last year to help retailers reduce prices to consumers. The store’s visits increased by 3 % and online requests grew by 9 %. However, by the end of 2024, total retail sales decreased by 5.3 %, revenues decreased by about 9 %, and net profits decreased to 806 million euros (about 942 million dollars).
The challenge facing Maeztu will reconcile competing goals.
On the one hand, Anna Johnson, a participating professor and senior business administration at Stockholm University, must try to decline in prices at a time when the competing retailers warn that the costs of customs tariffs can be transferred to consumers; On the other hand, he will have to continue to expand the global fingerprint of IKEA while achieving financial goals.
“Then again, the business budget is part of the IKEA culture,” says Johnson. “In the company’s DNA to explore new ideas constantly with recognition of installed solutions.”
