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Ikea Founder Kamprad Steps Down as Son Assumes Key Role

Ikea founder Ingvar Kamprad handed his youngest son the chairmanship of the company that controls the flat-pack furniture chain’s brand and concept as the retailer transitions power to the family’s next generation.

Mathias Kamprad replaces Chairman Per Ludvigsson as part of a generational shift that has been in preparation for years, Inter Ikea Group said in a statement today.