Had to happen of course but he did bring a revolution to household furniture. For me personally IKEA furniture has provided a stable reference point for some 35 years in 5 countries as I have moved around the world and my children have grown up with the “installation” of familiar objects, with odd names from the IKEA flat-packs. IKEA is an acronym comprising the initials of Ingvar Kamprad, Elmtaryd (the farm where he grew up) and Agunnaryd (his hometown in Småland, South Sweden.
Now IK is 87 and is handing over:
Ingvar Kamprad, creator of Swedish furniture retailer IKEA, is to take another step back from his company as the youngest of his three sons takes a key board role in a gradual handover of power.
Kamprad, 87, who founded the business in rural south Sweden 70 years ago, stepped down in 1986 as chief executive of IKEA, which has become the world’s biggest furniture group, famous for its flat packs and do-it-yourself assembly.
He will now leave the board of a key company within the business – Inter IKEA Group – and his youngest son Mathias will take over as its chairman.
“I see this as a good time for me to leave the board of Inter IKEA Group,” Kamprad said in a statement on Tuesday, referring to the company which owns the IKEA brand and which collects 3 percent of IKEA stores’ sales worldwide each year.
The k2p blog 