Ikea founder Ingvar Kamprad has left the board of Inter Ikea Group, the company that owns the Ikea brand,
the
New York Times
reported.
His youngest son, Mathias Kamprad, will replace Per Ludvigsson as Inter Ikea Group’s chairman.
“The Kamprad family still controls the complex corporate structure that makes up the Ikea empire, and [Ingvar] Kamprad himself keeps a tight grip behind the scenes,” the
Times r
eport noted.
A Bloomberg report
said Ingvar Kamprad remains on the board of Interogo Foundation, which owns the Inter Ikea Group. He is also senior adviser to Ingka Holding, the parent company of the Ikea Group, which owns most Ikea stores.
The Bloomberg report noted that Mathias’s brother Peter is chairman of Ikano Group, the finance, real estate, insurance and retail arm. Another brother, Jonas, serves on the board of Ikano Group.
Ingvar Kamprad, who founded the business 70 years ago, stepped down as Ikea’s CEO in 1986, the
Times
article said. (Sources:
New York Times,
June 5, 2013; Bloomberg, June 5, 2013.)
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