Juvencio Maeztu, until now Deputy CEO, has been appointed CEO of Ingka Group (IKEA), the principal retail company of the Swedish giant. Maeztu, who began his career at IKEA as a store manager in Spain, will succeed Jesper Brodin, who is stepping down after eight years. This appointment marks a significant milestone, as it is the first time that the global leadership of the company will rest with an individual who is not of Swedish nationality.
To put the significance of this appointment into context, Ingka Group is the largest franchisee of IKEA. With operations in 31 markets, it accounts for 90% of the brand’s global sales, both physical (stores and shopping centers) and online. The remaining 10% is in the hands of franchisees such as Al-Futtaim Group, which operates IKEA stores in countries such as Egypt, United Arab Emirates, and Qatar, or the Falabella Group, responsible for stores in South America, including Chile, Colombia, and Peru.
The new CEO will not only lead retail operations but will also oversee the group’s investment and innovation strategy, as well as the management of the brand’s shopping centers.
The leadership change will become effective on November 5, 2025. Jesper Brodin, who has spent 30 years with the company, will remain within the organization until February 2026 in order to ensure a smooth transition and will subsequently join the IKEA Foundation as a senior advisor.
The election of Juvencio Maeztu (pictured on the right in the photo at the top of this article) has been endorsed by the Chairman of the Supervisory Board of Ingka Holding, Lars-Johan Jarnheimer, who emphasized his extensive experience and “outstanding leadership.” Maeztu began his journey at IKEA in the brand’s store in Alcorcón (Madrid) in 2001 and has held various roles over the last decade at the company’s offices in Spain, Portugal, and the United Kingdom, including his tenure as Managing Director at IKEA India for over six years. His experience in the retail sector and his entrepreneurial mindset are seen by the company as key strengths for the future challenges of the organization.
Juvencio is an economist and holds an MBA from IESE Business School, is married, has two children, lives in the Netherlands, and has promptly expressed his gratitude and enthusiasm: “I am deeply excited and enthusiastic about the future of IKEA. The depth of our vision and our commitment to affordability and low prices mean much more than a business idea: it is our responsibility to the many people.”
Brodin, the outgoing CEO, has been the main driver behind the transformation of IKEA into an omnichannel company, expanding into new markets and cities with formats more tailored to customer needs. He has also successfully made sustainability a central pillar of the business model, a legacy that Maeztu has pledged to uphold.
In his farewell, Jesper Brodin expressed optimism about the company’s future under Maeztu’s leadership, highlighting his “profound commitment to the business, to people, and to the planet.”
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