Ikea franchisee Ingka Group has announced a leadership transition, with Juvencio Maeztu set to take over as CEO and president from Jesper Brodin by 5 November 2025.

Maeztu, currently deputy CEO, has a 25-year tenure with Ikea, having joined as a store manager in Spain.

Brodin is stepping down after eight years as CEO and 30 years with the company.

Ingka Holding chairman Lars-Johan Jarnheimer stated: "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.

“Over the last eight years, Jesper has led the company through unprecedented times, transforming Ikea into an omnichannel retailer while accelerating efforts and truly integrating sustainability into our business."

Maeztu expressed his gratitude and excitement for the future.

"I’m thrilled and excited about what lies ahead for Ikea," he stated, emphasising the brand's commitment to affordability and responsibility.

Maeztu's vision includes amplifying Ikea's essence and playing a more significant role in home living worldwide.

Brodin highlighted the company's successful navigation through challenges and its transformation into an omnichannel retailer with sustainability at its core.

"Now is the right time to move on," Brodin remarked, expressing his inspiration from Maeztu's commitment to business, people and the planet.

The transition will see Brodin stay with Ikea until the end of February 2026, after which he will continue to contribute as a senior advisor to the Ikea Foundation.

In July 2025, Ikea inaugurated its first small format store in Harlow, Essex, as part of its ongoing expansion in the UK.