financetom
Business
financetom
/
Business
/
Inter IKEA switches CEOs as it focuses on cash-strapped consumers
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Inter IKEA switches CEOs as it focuses on cash-strapped consumers
Sep 18, 2025 2:40 AM

MALMO, Sweden (Reuters) -Inter IKEA Group CEO Jon Abrahamsson Ring will step down at the end of the year, the owner of the world's biggest furniture brand said on Thursday, with Jakub Jankowski taking over as trade tensions and U.S. tariffs loom over the sector.

Jankowski, the 49-year-old Polish managing director of IKEA Industry, the group's manufacturing business, will become group CEO on January 1, 2026. He has previously held roles in Poland, Romania, the Netherlands, Switzerland and Sweden.

In an interview, Jankowski told Reuters that he planned to ensure Inter IKEA Group, which supplies furniture and franchises the brand to IKEA retailers globally, met the demands of a customer base coping with global economic headwinds.

"With all that's going on around the world, with inflation, with many people having less money in their wallets, it's super important for us that we become even more affordable and accessible to be relevant for customers," he said.

Global industries, including furniture manufacturing, have faced supply chain disruptions and uncertainty this year as U.S. President Donald Trump has sought to reshape trade in Washington's favour using import tariffs.

IKEA, the seller of $79 bookcases, is more reliant on imports in the U.S. than in other regions of the world, leaving it particularly exposed to U.S. import levies.

"Our purpose is to give as many as possible access to good home furnishing that ... is as affordable as possible. And our experience is that tariffs do not help that," Abrahamsson Ring, who has served as CEO since 2020, told Reuters.

Thursday's announcement comes a month after the biggest IKEA franchisee, Ingka Group, named Spaniard Juvencio Maeztu as its new CEO.

Abrahamsson Ring, 51, said the events were not connected, and the timing was right for him to leave. Having held roles at IKEA between 1998 and 2008, including as assistant to IKEA founder Ingvar Kamprad, he rejoined in 2017.

The Swede navigated the group through a period of global supply chain disruptions and high raw material costs caused by the COVID-19 pandemic, which led IKEA to hike prices in 2021 and 2022.

To boost affordability and lure inflation-weary shoppers back, IKEA has since cut prices across its range of products, driving revenues down last year.

Jankowski said he aims to bring prices back to their pre-pandemic levels.

The changing of the guard at both Inter IKEA and Ingka Group marks the first time both companies, which centers their marketing around their Swedish roots, are led by non-Swedes.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Market Chatter: Toyota Motor to Reduce Part Lineups Under Efficiency Initiative
Market Chatter: Toyota Motor to Reduce Part Lineups Under Efficiency Initiative
Sep 17, 2025
02:57 PM EDT, 09/17/2025 (MT Newswires) -- Toyota Motor ( TM ) is expanding an initiative to minimize unnecessary parts in a bid to improve productivity and add capacity, Nikkei Asia reported Wednesday, citing company executives. A team of around 40 people from backgrounds of sales, development, procurement and production handles the efficiency project called Area 35, according to the...
VCI Global Initiates Rescission and Cancellation of Shares from QuantGold Transaction, Tightening Capital Structure Following Reverse Split
VCI Global Initiates Rescission and Cancellation of Shares from QuantGold Transaction, Tightening Capital Structure Following Reverse Split
Sep 17, 2025
KUALA LUMPUR, Malaysia, Sept. 17, 2025 (GLOBE NEWSWIRE) -- VCI Global Limited ( VCIG ) (“VCI Global” or the “Company”), today announced the rescission of its previously announced acquisition of 20% equity stake in QuantGold Data Group Limited (QuantGold), resulting in the cancellation of associated shares and a more efficient capital base. Following an internal and strategic review, VCI Global’s...
Progressive August Net Income Rises
Progressive August Net Income Rises
Sep 17, 2025
02:57 PM EDT, 09/17/2025 (MT Newswires) -- Progressive (PGR) on Wednesday reported August net income of $2.07 per share, up from $1.59 a year earlier. Net premiums earned in August were $7.04 billion, up from $5.97 billion a year earlier. Total companywide policies in force were 37.9 million, up from 33.4 million a year earlier. Price: 243.21, Change: -1.76, Percent...
Boeing, Honeywell sued by Air India crash victim families
Boeing, Honeywell sued by Air India crash victim families
Sep 17, 2025
* Fuel cutoff switch and negligence blamed * 260 people died from crash of Flight 171 By Jonathan Stempel Sept 17 (Reuters) - The families of four passengers who died in the June crash of Air India Flight 171 sued Boeing ( BA ) and Honeywell ( HON ), blaming their negligence and a faulty fuel cutoff switch for the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved