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.
Professor de Dirección Estratégica
Cátedra Fundación IESE del Gobierno de la Empresa Doctor en Ciencias económicas y empresariales, Universitat de Barcelona
Post-Doctoral Fellow, Graduate School of Business Administration, Harvard University
Jordi Canals es profesor de Dirección Estratégica. Fue Director General del IESE desde 2001 a septiembre de 2016. Es el Presidente del IESE Center for Corporate Goverance. Es autor de varios libros y artículos como The Future of Management in an AI World: Redefining Purpose and Strategy in the Fourth Industrial Revolution (Palgrave Macmillan, 2019), 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), La internacionalización de la empresa (McGraw-Hill, 1994) y Competitive Strategies in European Banking (Oxford University Press, 1993).
Jordi Canals ha sido Guest Scholar del Fondo Monetario Internacional, Visiting Scholar del Banco Mundial, Post-doctoral fellow de la Harvard Business School y Guest Scholar de la Brookings Institution.
Ha sido miembro de los consejos del GMAC, del European Institute for Advanced Studies in Management, del EQUIS, y de diversas empresas. Además, fue miembro de la Comisión de Gobierno Corporativo establecido por el Gobierno español en julio de 2002.
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.
Juvencio Maeztu, CFO and Deputy CEO of Ingka Group