Mathias Kamprad replaces Per Ludvigsson, in a generational change that has been underway for several years, according to a press release of Inter Ikea Group, quoted by Bloomberg. Ingvar Kamprad, 87, who founded Ikea in 1943, has stepped down as general manager in 1986. Kamprad has a fortune estimated at $52.7 billion, ranking 5th in Bloomberg’s top of richest people in the world.
“I see this as a good time for me to leave the board of Inter Ikea Group,” Kamprad said in statement, adding that he will retire.
Ikea shareholding structure comprises several foundations and associated companies, registered in the Netherlands and other countries. Kamprad is a member of the board of Interogo Foundation, registered in Liechtenstein, which owns Inter Ikea Group. The billionaire is the main adviser of the parent company of Ikea Group, a corporation that owns the majority of Ikea stores.
Inter Ikea Group also announced that the net profit last year rose to €443 million from €87 million a year earlier, mainly due to a windfall. Total revenue rose by 9.5% to €2.66 billion. Ikea Group has previously announced a sales increase of 9.5% from September 2011 to August 2012, reaching €27 billion, while the net profit rose by 8% to €3.2 billion.
“Our main task will always be to ensure a long life for the Ikea concept by keeping the needs of the many people in mind. As this will require investments in both good and bad times, the group strives to be financially independent,” Mathias Kamprad said in the statement.
Last year, a magazine for Ikea employees revealed that Kamprad’s three sons, Peter, Jonas and Mathias have received significant responsibilities in the empire of the Swedish billionaire. Mathias, 45, the youngest, is also a board member of the Interogo Foundation.
Peter is the president responsible for finance, real estate, insurance and retail at Ikano Group, another branch of the family business. Jonas is a board member of Ingka Holding, the parent company of Ikea Group.
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