Inter Ikea Group on Tuesday announced Jon Abrahamsson Ring has been appointed to the chief executive role.
Abrahamsson Ring will assume the deputy chief role on March 1 and officially make the transition to CEO on Sept. 1, according to a company press release.
He succeeds Torbjörn Lööf, who led Inter Ikea Group for the past seven years.
Lööf joined Ikea more than three decades ago and since assuming the chief role in 2013, he has sought to make the home goods brand "more affordable, accessible and sustainable."
Sustainability has been top of mind for Inter Ikea Group, which primarily focuses on the company's franchising, range and supply, and industrial initiatives. The group has rolled out collections like the Förandring and Musselblomma, which aim to turn waste into useable products. Its largest franchisee, Ingka Group, which as of August 2019 ran 375 of Ikea's 433 global stores, is also pursuing initiatives of this nature.
Ingka Group, which announced in 2018 plans for zero emissions for home delivery by 2025, and more recently announced plans to open an an "innovative and environmentally friendly" parking lot-less store in Vienna, Austria. The group has also worked to pilot a furniture leasing program, which will roll out to 30 markets later this year.
"With a new IKEA direction and a solid franchise system in place, it's a good time for Torbjörn to hand over responsibility as CEO of Inter IKEA Group," Anders Dahlvig, Inter Ikea Holding B.V. chairman, said in a statement.
It has been a time of expansion for Ikea. Last year, the Swedish furniture retailer announced its annual sales exceeded 40 billion euros for the first time. Ikea has grown to house over 400 stores worldwide and has an online presence in 50 markets. And during Lööf's tenure, the home goods brand has entered into more than 15 new markets, which the company said was "one of the most intense period[s] of international expansion for Ikea."
Abrahamsson Ring has held various roles at Ikea over the years, including serving as the assistant to Ikea founder Ingvar Kamprad. Looking to its bench to fill key executive roles appears to be a trend for the Swedish home goods retailer. Both the former and current Ikea Group CEOs, Peter Agnefjäll and Jepser Brodin also previously served as assistants to Kamprad.
Abrahamsson Ring's work outside the company, though, allowed him to gain experience leading an organization. In 2008, he became the CEO of fashion brand Filippa K and later the CEO of gardening brand Plantagen.
"Ikea is on a great journey, which is only in the beginning, and we will continue to stay true to who we are and what makes us unique: our culture and values, our vision and our business idea," Ambrahamsson Ring said in a statement. "And we must remain curious about our customers' needs and dreams and their lives at home."