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Ikea Founder Steps Down, Hands Chairman Position to Son

Posted By Kristine Lofgren On June 6, 2013 @ 4:00 pm In green Interiors,News | No Comments

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Ikea [3] founder Ingvar Kamprad just stepped down as chairman of the billion-dollar furniture company, handing the reigns to his son, Mathias Kamprad. The retailer’s transition between generations has been in the works for years. The elder Kamprad [4] will still have a say in how the business is run, but he will no longer sit on the board – and though he may be retiring from the company, he has no plans to stop working.

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Ingvar Kamprad started out by selling matches door-to-door at the age of five, and he founded Ikea in 1943. Now 87 years old, Kamprad is ranked as the fifth richest [6] man in the world, with an estimated net-worth of over $52 billion. He will continue to sit on the board of theĀ Interogo Foundation, the parent company for the Ikea Group [7]. Kamprad has three sons and an adopted daughter, and Mathias is the youngest of the sons. All three sons are involved in the family business. Ikea reported a net profit of $579 million for 2012.

Via Bloomberg [8]

Images from infomatique [9] and OiMax [10]


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URL to article: http://inhabitat.com/ikea-founder-steps-down-hands-chairman-position-to-son/

URLs in this post:

[1] Ikea: http://www.shutterstock.com/pic-110672837/stock-photo-malmo-jun-ikea-malmo-store-on-jun-in-malmo-malmo-sweden-the-company-is-the-world-s.html?src=cjAzc6b4dHwX8oYPOpSAGA-1-0

[2] Shutterstock: http://www.shutterstock.com/

[3] Ikea: http://inhabitat.com/ikea-announces-that-it-will-sell-only-led-lighting-by-2016/

[4] Kamprad: http://en.wikipedia.org/wiki/Ingvar_Kamprad

[5] Image: http://inhabitat.com/ikea-founder-steps-down-hands-chairman-position-to-son/inter-ikea-mathias-kamprad-ingvar-kamprad-chairman-retires/

[6] richest: http://inhabitat.com/internet-mogul-sean-parker-trashes-old-growth-redwood-forest-to-create-a-fantasy-wedding/

[7] Ikea Group: http://inhabitat.com/ikea-announces-plans-to-become-100-energy-neutral-by-2020/

[8] Bloomberg: http://www.bloomberg.com/news/2013-06-05/ikea-founder-kamprad-steps-down-as-son-mathias-becomes-chairman.html

[9] infomatique: http://www.flickr.com/photos/infomatique/

[10] OiMax: http://www.flickr.com/photos/oimax/

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