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updated: 9/17/2012 1:06 PM

Ikea CEO to step down next year

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Associated Press

STOCKHOLM -- Ikea says CEO Mikael Ohlsson will retire next year after 34 years of working for the world's largest furniture retailer.

The Swedish company announced Monday that Ohlsson, who has been chief executive since 2009, will be replaced in September 2013 by Peter Agnefjall, who has temporarily been appointed vice president of the group until he takes over the top post.

Agnefjall, 41, is currently country manager of Ikea Sweden. He has held several leadership positions in the group since 1995, including as assistant to Ikea founder Ingvar Kamprad.

Ikea employs 131,000 people in 41 countries. It served 655 million customers at some 290 stores in 2011.

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