Ikea's founder sets family succession plan

Staff Staff, August 19, 2002

Ikea founder Ingvar Kamprad has told a newspaper here that his three sons are ready to take over the global furniture chain.

He told the Financial Times that his eldest son, Peter Kamprad, 38, probably will become chairman of the Dutch foundation that holds the retailing operation. Jonas Kamprad, 35, will direct the product line. Matthias Kamprad, 33, could succeed Ikea's current president, Anders Dahlvig.

Ingvar Kamprad also indicated that Ikea might sell Habitat, the 87-store European chain the Kamprad family purchased in 1992. He said there are several potential buyers, including an unnamed large U.S. chain.

Kamprad gave no timetable for the succession plan at Ikea, or for a possible sale of the Habitat chain.