Transformation, Governance & Purpose: The Case of Ingka 2020
In June 2020, in the middle of the global pandemic, the board of directors of Ingka -the retail branch of IKEA- was considering how to combine the firm's purpose, the firm's new sustainability requirements, and the digital transformation that a retailer of the size of Ingka had to implement. These factors influence Ingka's performance and its corporate governance A new set of criteria for strategy decisions and new KIPs had to be developed to truly reflect the firm's performance, the speed of its transformation and the degree of advance in its purpose.
In this session, the Ingka in 2020 case will be presented. A discussion between Juvencio Maeztu, Ingka's Deputy CEO and CFO and Professor Jordi Canals will unbundle the challenges of the firm's transformation.
-This session is primarily addressed to the Executive MBA Program, Class of 2021, but will be accessible through Zoom to IESE Members of the Alumni Association.
-The Ingka in 2020 Case will be sent after the registration
- Jordi Canals is professor of strategic management, the holder of Fundación IESE Chair in Corporate Governance and President of IESE Center for Corporate Governance (CCG) . He was Dean of IESE from 2001 through 2016. Prof. Canals is a recognized scholar in the areas of corporate strategy, corporate governance and globalization. He is the author of numerous books and articles, including Shaping Entrepreneurial Mindsets (Palgrave MacMillan, 2015), Leadership Development in a Global world (Palgrave MacMillan 2012), Building Respected Companies (Cambridge University Press, 2010), Managing Corporate Growth (Oxford University Press, 2000), Universal Banking: Theoretical Perspectives and International Comparisons (Oxford University Press, 1997), and Competitive Strategies in European Banking (Oxford University Press, 1993). Prof. Canals has served as guest scholar at the International Monetary Fund, visiting scholar at the World Bank, post-doctoral research fellow at the Harvard Business School and guest scholar at the Brookings Institution. He was a board member of GMAC, the European Corporate Governance Institute, the European Institute for Advanced Studies in Management, and the European Foundation for Management Development. Jordi Canals is also a founding member of the European Shadow Financial Regulatory Committee, Europe's independent oversight group on European banking and financial affairs. In addition, he was a member of the Corporate Governance Commission set up by the Spanish Government in July 2002.
Juvencio Maeztu, CFO and Deputy CEO of Ingka Group
Juvencio Maeztu is CFO and Deputy CEO of Ingka Group. He joined IKEA in 2001 because of its vision and culture and values, which are the driving forces behind his passion for growth at IKEA. Prior to starting his current role, Juvencio led IKEA India as CEO for over 6 years.
During his time in IKEA, Juvencio has had extensive store experience, which he believes is the best platform to understand the customers and the core of the IKEA business. Juvencio has had diversified experience and responsibilities in Spain, Portugal, United Kingdom and India before moving to The Netherlands.
He is Board member and Managing Director for Ingka Holding B.V. which consists of three businesses: IKEA Retail, Ingka Centres and Ingka Investments.Juvencio is Economist and MBA from IESE Business School. He is married, has two children, and lives in The Netherlands. In his free time he loves to sail.