Jesper Brodin Promoted to CEO at Ikea

Ikea Group has named Jesper Brodin CEO after Peter Agnefjall decided to step down recently. Brodin is currently responsible for the Swedish furniture retailer’s product range and supply chain. He started at Ikea in 1995, and has worked in purchasing, product range development, logistics and group management.

Ikea Chairman Lars-Johan Jarnheimer told Bloomberg that the CEO change won’t affect Ikea’s goal of raising its annual revenue to 50 billion euros by 2020. Ikea’s store sales role 7.1 percent to 34.2 billion euros last year. The new CEO “is used to transformative work, which is more relevant than ever today,” Jarnheimer added.

“We see opportunities to continue to grow in all markets because we’re quite small and have relatively low market shares everywhere apart from in Sweden,” Agnefjall told Bloomberg. “We see big opportunities in large markets such as China and India, and I’d also like to highlight the U.S., where there are still quite a lot of white spots on the map.”