Who is Juvencio Maeztu, IKEA's New CEO?
Juvencio Maeztu will take on the role of CEO and President of Ingka Group, the largest franchisee of IKEA operating more than three-quarters of the brand’s global stores, on 5 November 2025.
This follows the announced departure of current CEO Jesper Brodin, who is stepping down from the business after eight years as chief executive and 30 years at the company.
The appointment brings a change in leadership at a time when the business faces heightened expectations on sustainability, affordability and operational transformation across retail and manufacturing.
Juvencio, who currently serves as Deputy CEO, brings 25 years of experience at IKEA, including leadership positions in Spain, Portugal, the UK, India and the Netherlands.
He began his journey with the company in the early 2000s as a Store Manager in Spain. Ingka describes him as someone “known for his purpose-driven, entrepreneurial leadership and has extensive retail and store experience”.
He later took on the role of CEO of IKEA India, holding the post for more than six years before transitioning to his current leadership role at Ingka Group.
Writing on LinkedIn, Juvencio confirmed the change, stating: “I’m thrilled and excited to share the news that I have been appointed new CEO and President at Ingka Group and will start my new job in November 2025. I feel deeply grateful, humble and responsible for the trust and confidence placed in me.
“The future excites me. We have a strong foundation, a clear direction and nearly 170,000 amazing colleagues around the world,” he says. “Together, we will make IKEA more affordable, accessible and sustainable for many people. We have the opportunity and the responsibility, to amplify the essence of who we are and play an even bigger role around life at home in the world.”
Leadership transition during industry transformation
The manufacturing and retail sectors continue to face change as consumer demands shift and sustainability becomes embedded across business strategy.
Lars-Johan Jarnheimer, Chairman of Ingka Holding B.V., reflected on this period in a company statement, describing the outgoing CEO’s contribution.
“IKEA is built on a strong purpose and vision of creating a better everyday life for the many people formed by our founder Ingvar Kamprad and embraced by our nearly 170,000 co-workers,” wrote Lars-Johan.
“Over the last eight years Jesper has led the company through unprecedented times with a remarkable contribution, transforming IKEA into an omnichannel retailer while accelerating efforts and truly integrating sustainability into the business.”
He continued: “Under Jesper’s leadership, IKEA has expanded into new markets and cities with a variety of formats, meeting the changing needs of our customers. Even if it’s sad to see Jesper leave after 30 years, we have a solid strategy and plan for the coming years and I’m excited about what the future brings. Juvencio has extensive experience of IKEA and the retail business and I know he is a great fit for the job ahead.”
Ingka Group operates 367 of IKEA’s 464 global stores and employs nearly 170,000 people.
In manufacturing terms, the company’s longstanding model of producing affordable and functional home furnishings remains central.
However, it is increasingly aligned with principles of sustainable production, responsible sourcing and renewable energy use.
Sustainability and affordability at the core
Juvencio’s appointment comes at a moment when IKEA’s business model places a strong emphasis on reducing its environmental impact. The company builds its strategy around renewable energy investment, adopting circular economy principles and setting clear commitments to cut its carbon footprint.
Jesper Brodin’s tenure saw IKEA embed these pillars into its operations while evolving into an omnichannel retailer, a model that links traditional manufacturing and distribution with ecommerce and digital engagement.
“After 30 inspiring years within IKEA and the recent eight years as CEO, I have taken the decision to move on,” said Jesper, announcing his departure. “Doing that, I’m proud of how we have navigated unprecedented challenges across the last years, always guided by our culture and values, while transforming IKEA to an omnichannel retailer with sustainability at our core.”
He added: “We are serving more people in better ways than ever before and I’m genuinely optimistic about IKEA’s future. Now is the right time to move on and I’m excited for Juvencio to take over. His deep commitment to business, people and planet inspires me and as we find ourselves in the most important decade of humanity, I know he will lead with purpose at heart.”
Jesper will remain with the company until February 2026 and then move into an advisory role at the IKEA Foundation, continuing his work on sustainability and long-term impact.
