IKEA’s First Non-Swedish CEO Vows to Preserve Its Frugal Roots

The first non-Swedish person to run Ingka Group vowed to keep prices affordable at a company that operates about 90% of IKEA stores worldwide.

Chief Executive Officer Juvencio Maeztu said he will maintain sharp pricing on everything from furniture flatpacks to the 5-krona (53 cents) hot dog — a staple of every IKEA store in Sweden — in order to attract more customers.