Ikea denies reports of founder's retirement
Published on Sep 17, 2012 7:59 PM
STOCKHOLM (AFP) - Swedish furniture giant Ikea denied on Monday that its 86-year-old founder Ingvar Kamprad had formally handed over the running of the business to his three sons, as a company official told a Swedish daily.
"Ingvar will no longer be there to give his point of view, give advice or support," Mr Goeran Grosskopf, chairman of Ingka Holding, the Dutch parent company that comprises all of the family-owned Ikea businesses, told the daily Expressen. But Mr Grosskopf later denied the report.
"With regard to the media reports about Ingvar Kamprad, I want to underline that we still have the pleasure of having him as Senior Advisor to the Supervisory Board for Ingka Holding," he said in a written statement to the online edition of newspaper Svenska Dagbladet.
Expressen also based its report on an interview with Kamprad's three sons Peter, Jonas and Mathias Kamprad in an internal Ikea newsletter. But the company denied that Mr Kamprad had passed the torch, stressing that he was still acting as an advisor, and said the interview with his sons did not imply that there had been any changes.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!