Dive Summary:
- IKEA's 87-year-old founder Ingvar Kamprad announced that he would step down from the board of Inter IKEA Group, the company that owns the IKEA name and guides its business strategy.
- Mathias Kamprad, the founder's youngest son who is in his 40s, will take over the chairman role.
- While Mathias focuses on Inter IKEA Group, his brother Jonas have a leadership position in IKEA Group, and their brother Peter will be at Ikano Group, marking a new era in younger family members exerting control over the IKEA family of companies.
From the article:
"... IKEA has grown despite austerity in Europe, and now the three sons must now take up the challenge of spreading in markets like China and India and making further inroads online.
They have the advantage of instant brand recognition; the company claims its catalogue - 212 million copies last year in 29 languages - is the second most read publication after the Bible. ..."
