Inter Ikea Group ropes in new CEO

Abrahamsson will be taking over the reins on September 1.
IKEA

Inter Ikea Group has announced Jon Abrahamsson Ring, a former assistant to furniture giant Ikea's Founder Ingvar Kamprad, as its new Chief Executive Officer (CEO).

Abrahamsson will be taking over the reins on September 1. He will replace Torbjorn Loof, who resigned after seven years at the head of the group.

Under Loof's management, Ikea expanded into 15 new markets and is scheduled to launch its first South American store in Chile next year.

Abrahamsson joined Ikea in 1998 as a trainee. He worked for the company in Canada before becoming Ingvar Kamprad's assistant for four years and then holding a senior position in China. Abrahamsson Ring left Ikea in 2008.

Inter Ikea Group controls the Ikea brand. It selects the franchises that sell Ikea items worldwide, in physical stores or online. The group also controls the development of new products.

In October last year, Ikea is planning to expand to Tier-II cities as a part of its Phase 2 expansion plan.

The company was developing a large format store in Bengaluru in 2019. It later plans to develop one in Delhi as a part of its first phase expansion plans.

Currently, Ikea has large-format stores in Hyderabad and Mumbai.

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