Ikea vet to become first non-Swedish CEO

Juvencio Maeztu, who began his 25-year career with Ikea as a store manager in Spain, has been named the next CEO of Ingka Group, the largest Ikea owner.

He has been serving as deputy CEO. Maeztu succeeds Jesper Brodin, a 30-year Ikea veteran who has spent the past eight years as Ingka Group CEO.

Ingka Group oversees retail operations in 31 markets and represents about 90% of Ikea’s total retail sales.

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Lars-Johan Jarnheimer, chairman of Ingka Holding B.V., noted that during his tenure Brodin led the company through “unprecedented times” while also transforming Ikea into an omnichannel retailer and creating new formats. He also welcomed Maeztu to his new leadership role.

“Even if it’s sad to see Jesper leave after 30 years, we have a solid strategy and plan for the coming years, and I’m excited about what the future brings. Juvencio has extensive experience of Ikea and the retail business, and I know he is a great fit for the job ahead,” Jarnheimer added.

Brodin, preparing to hand the baton to his successor, praised Maeztu’s commitment to business, people and the planet. “As we find ourselves in the most important decade of humanity, I know he will lead with purpose at heart,” he said.

Maeztu will officially become CEO on Nov. 5. Brodin will remain with the company until end of February 2026. Thereafter Brodin will serve as a senior advisor to Ikea Foundation, among other things.