From Home Furnishing Business
Ikea Founder Steps Down
Ingvar Kamprad, the founder of furniture retailer Ikea, has stepped down and removed himself from all official duties including the company's board.
Ingvar Kamprad, the founder of IKEA, has resigned from all his formal duties within the company, the first time ever that Kamprad plays no role in its board.
Kamprad was still active in two foundations which own parts of IKEA, but he has resigned from both institutions as well, something that had already been done sometime last year, but the news only leaked out now through the Financial Times. However, he remains an informal advisor to the Ikea Group's board.
Kamprad had already passed on a lot of responsibilities onto his sons these past 10 years and an IKEA spokesperson declared it to be the final step in passing the torch to a new generation.
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