Juvencio Maeztu has been appointed CEO and president of Ingka Group, IKEA's parent company.
Juvencio, currently deputy CEO, has spent the last 25 years within IKEA in different roles, starting out in the early 2000s as a store manager in Spain. He is known for his purpose-driven, entrepreneurial leadership and has extensive retail and store experience.
He succeeds Jesper Brodin who, after eight years as CEO and 30 years within IKEA, has decided to move on.
“IKEA is built on a strong purpose and vision of creating a better everyday life for the many people formed by our founder Ingvar Kamprad and embraced by our nearly 170,000 co-workers," says Lars-Johan Jarnheimer, chairman of Ingka Holding.
"Over the last eight years Jesper has led the company through unprecedented times with a remarkable contribution, transforming IKEA into an omnichannel retailer while accelerating efforts and truly integrating sustainability into the business. Under Jesper’s leadership, IKEA has expanded into new markets and cities with a variety of formats – meeting the changing needs of our customers.
"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.”
Juvencio comments: “I am deeply grateful for the trust and confidence placed in me. Working alongside Jesper for the last seven years has been a privilege and I’m the first in line to thank him for his amazing contributions, his courageous leadership and most of all, his friendship. I’m thankful to build on the foundation that he and others before him have created.
"I’m thrilled and excited about what lies ahead for IKEA. The depth of our vision and our commitment to affordability and the low price is more than our business idea – it’s our responsibility to the many people. We have the opportunity to amplify the essence of IKEA and play an even bigger role around life at home in the world.”
Jesper concludes: “After 30 inspiring years within IKEA and the recent eight years as CEO, I have taken the decision to move on. Doing that, I’m proud of how we have navigated unprecedented challenges across the last years, always guided by our culture and values, while transforming IKEA to an omnichannel retailer with sustainability at our core. We are serving more people in better ways than ever before and I’m genuinely optimistic about IKEA’s future.
"Now is the right time to move on and I’m excited for Juvencio to take over – his deep commitment to business, people and planet inspires me and as we find ourselves in the most important decade of humanity – I know he will lead with purpose at heart.
"The decision to take the next step hasn’t been easy. A big heartfelt thank you to the IKEA community – over the years I have had the opportunity to get to know people across the world and develop deep friendships, memories and experiences that will last for a lifetime. For that I’m forever grateful. Going forward, I hope to apply my experience in business and sustainability to support and inspire more organisations."
Juvencio will start the new role by November 5th, 2025, succeeding Jesper, who will stay in the company until the end of February 2026. Thereafter, Jesper will contribute as a senior advisor to IKEA Foundation, among other roles.
Pictured: Jesper and Juvencio
