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Investing.com -- The world’s biggest retailer of IKEA furniture, Ingka Group, announced Wednesday that CEO Jesper Brodin is stepping down after eight years in the role, with Spaniard Juvencio Maeztu appointed as his successor.
Maeztu, 57, will become the first non-Swedish CEO to lead the Swedish retail giant. He is scheduled to assume the top position by November 5, while Brodin will remain with the company until the end of February to facilitate a smooth transition.
The incoming CEO faces significant challenges as the company navigates U.S. tariffs, ongoing wars, and geopolitical tensions that could disrupt its operations across 31 countries spanning Europe, China, India, and the United States.
Maeztu brings extensive experience within the IKEA ecosystem, having joined the company in 2001 as manager of the Alcorcon store in Madrid. His career progression includes managing the Wembley store in London and serving as CEO of IKEA India for six years. Since 2018, he has held the positions of Deputy CEO and chief financial officer at Ingka Group.
Brodin, who has served as CEO since 2017, stated that his decision to step down was difficult but that the timing was right.
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