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Ikea CEO to step down

Stockholm, Sweden -- Ikea said Monday that its CEO Mikael Ohlsson will step down effective Sept. 1, 2013, and will be succeeded by Peter Agnefjall, current country manager of Ikea Sweden.

To prepare Agnefjall for his new role, Ikea said that he will serve as VP of the company beginning in 2013 until his September transition.

Ikea also announced that founder Ingvar Kamprad has elevated his three sons’ roles in the company. Peter, Mathias and Jonas will have "more active ownership roles," according to Ikea spokesman Per Heggenes. The retailer said the two moves are unrelated.

Peter, the eldest son, has been working in Ikea's purchasing and retail operation and now chairs Ikano. Jonas, a former Ikea furniture designer, sits on the board of the Ingka holding company. Youngest brother Mathias has worked as an assistant to his father and is on the board of Inter Ikea.