NETHERLANDS –  Spanish executive Juvencio Maeztu will become CEO and President of Ingka Group, the largest Ikea retailer, starting November 5, 2025.

Currently Deputy CEO, Maeztu has spent 25 years within the company, beginning in the early 2000s as a store manager in Spain.

He will succeed Jesper Brodin, who after 30 years at Ikea—including the past eight as CEO—will step down at the end of February 2026. Brodin will continue contributing as a Senior Advisor to the Ikea Foundation.

“I am deeply grateful for the trust placed in me. Working alongside Jesper for the past seven years has been a privilege. He has shown courageous leadership and built a strong legacy. I am excited about the future and the opportunity to strengthen Ikea’s vision, which is more than just a business idea—it’s a responsibility to people,” Maeztu said.

Brodin commented: “After 30 inspiring years at Ikea and the past eight as CEO, I have decided to move on. I am proud to have led Ikea’s transformation into an omnichannel retailer with sustainability at its core. Now is the right time to step aside, and I trust Juvencio will lead the company with his deep commitment to people and the planet.”

Ingka Group operates Ikea stores in 31 markets, representing about 90% of the company’s global retail sales.

Photo: Jesper Brodin and Juvencio Maeztu