IKEA US President to Retire

IKEA (Leiden, The Netherlands) announced that Lars Petersson will be retiring from his post as the retailer’s U.S. president. Petersson has served with the company for 36 years.

With his departure, the company said another company veteran, Javier Quinones, will fill his shoes. Quinones has worked for the company for 20 years and, less than a year ago, took up the same post over the chain’s U.K. and Ireland business. The company has not yet named Quinones’ successor.

According to Daily Gazette, the news is a blow for the U.K. retail landscape, coming only days before the retailer opens its newest store in southeast London. This store in Greenwich is being billed as IKEA’s most sustainable store yet.