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IKEA UK's CEO believes risks are needed to drive a business forward | Boardroom Uncovered
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Oct 7, 2024
"What kind of CEO are you?" City A.M.'s UK Editor Jon Robinson sat down with the UK CEO of IKEA, Peter Jelkeby, trying to uncover what makes him and the group tick behind the boardroom. In addition to being the kind of CEO who "walks the talk", he believes he is "approachable" and "part of the family". Is that one of the reasons behind his and IKEA's success? On April 15th, find out the secrets behind IKEA's icon meatballs and how they adapted during the lockdown in City A.M.'s brand-new series Boardroom Uncovered, where we sit with the UK's biggest bosses to discover what goes on behind closed doors ā hosted by Jon Robinson and produced by Emmanuel Nwosu. Get more of City A.M. š š http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: http://www.linkedin.com/company/cityam #entrepreneur #interview #business #businessowner #businesstips #ikea #food #retail #ceo Produced by: Jon Robinson, Emmanuel Nwosu, THG Studios
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0:00
And what kind of CEO are you
0:02
You should ask probably someone else, but I want to be the one who is, first of all
0:07
approachable that I walk the talk. But you've been established here for quite so many decades now
0:13
How do you continue to rebel? Yeah, the first time in the 80s then it was very much of bringing in New Stein
0:19
Then of course that done is part. Then you tap into what is happening in society, in the life
0:24
at home. And how can we take a kind of more, I would say, entrepreneurial kind of part of that
0:30
and tip in or tap in, probably said, that range, right, into that and do it with a twist
0:35
So you're lowering prices across the broad in the UK? We are. And how much is that going to cost you
0:40
And why are you giving back? Why are you doing that now? No, I think we need to do it to be affordable and the cost of living
0:47
And we are pretty clear over the thin wallets. And we understand that the low price is important for us and also for our consumers
0:54
So that's why we are giving it back. But there's also the supply chain, of course
0:58
It's changing, right? So I think it's as part of the whole inflation coming down
1:03
It's also part of the whole furnishing, right? So that's why we do it to remain competitive
1:07
How are you taking risks? I think that it's needed to drive the business forward
1:12
I think you have a responsibility at the same time. And I think that your plan, of course, you know what your foundation is
1:19
You know roughly about what the debut issue you can take. Hi, this is the first episode of Boardroom Uncovered, brought to you by City AM
1:27
I'm John Robinson, City AM's youth. UK editor, and I'll be speaking to the men and women across various industries who run the biggest
1:34
and best-known companies operating in the UK today, finding out what makes them tick and
1:40
unravel what it's really like to sit in the hot seats of their mysterious boardrooms
1:45
In this episode, I'll be speaking with IKEA's UK CEO. After first joining the company in 1989
1:52
as the purchaser in Moscow, he quickly rose at the ranks before a near 10-year stim at Class Olson
1:58
and then taking on his current job in April 2019. Without further ado, let's dive into it
2:06
It's good to see you, Peter. Thank you so much for coming. Thanks for having you. So, you know, you've worked for IKEA man and boy, thereabouts
2:15
More or less, more or less. IKEA obviously opened its first store in the UK
2:20
1987, just down the way it's in Warrington. Warrington. I was there yesterday
2:24
Oh, were you? Yeah. It's become one of the most well-known, and well-expected well loves brands in the UK
2:31
What do you put that popularity down to? I think we are a brand that is relevant in many ways
2:36
I think obviously we are about life at home, which relates to many of us. And that's what life could be all about in one way
2:42
I think we have a somehow we are, I mean, the history here was when we came
2:46
we came with something new, a new style to bring to the, in this case, British consumers
2:50
And I think it went down really well. I think also we have a kind of an approach that is for the many
2:55
So we want to be with a manning. I think we are very good at embracing the life at home in this case in Britain
3:02
And I think we have a lot of products that are easy to love. And we like to be a little bit rebellic
3:06
So I think we create emotions. And I think all that together is like makes it kind of normally a brand that creates emotion
3:13
And I made you with two cases, love emotions, I would say. So it's not just about the meatballs then
3:19
No. No. But I think the funny thing is that when you, for example, talking about are you opening a store
3:24
I mean, a new format. Or the meat was going to be there. Normally is the first question before we will get to what kind of furniture
3:30
you want to offer and so on the services. So I think that's part of identity, the Swedishness
3:35
And we don't mind, of course. Yeah. Why do you think the meatballs are so popular with the British public
3:40
Because it's obviously not what you're known for, it's flat packed furniture
3:44
And meatballs. And meatballs. Yeah. Now, I think it's a time when Ingmar Kampradar
3:49
the founder realized the importance of having kind of something to eat
3:53
along the way in the shopping. You come to IKEA for a day out in those days and walking around
3:58
and you wanted to have that break. And then you came in, if I bring that to the UK, of course
4:02
we brought in that case the Swedishness wasn't very much about meatball. So I think for someone
4:07
then coming into an IKEA story, it was about experience a bit of Sweden, experience a bit of
4:11
Scandinavian Swedish on furnishing and then also food experience. And then the meatball, fantastic value
4:17
and actually taste really good, I think. I mean, apparently many of the Brits also think
4:23
taste well. I think that is why. Okay. You mentioned about rebellion. You know, it's easy to do when
4:29
you're a new brand disrupting the retail space in a country and every market that you go in
4:34
But you've been established here for quite so many decades now. How do you continue to rebel
4:39
I think it's about finding the topics that that is relevant. That is, because I think that
4:44
yes, you come, for example, when we came in here the first time in the 80s, then it was very much
4:48
of bringing in a new style. Then, of course, that done is part. And you tap into what is
4:53
kind of happening in society, in the life at home. And how can we take a kind of more, I would say
4:58
entrepreneurial kind of part of that and tip in or tap in probably said better English, right
5:04
into that and do it with a twist. Because if we want a bit stand out
5:08
I think it's very much there to show our personality. So, you know, topics about how we live
5:14
what's important in life, that moves on. And we need to stay close to life at home and do it in our way
5:19
So I think that's the reason why. And aside from the meatballs, obviously, you know, lots of people buying all sorts of different products at IKEA every single day
5:28
It's something, yeah, over the last couple of years, it's a trend gone from one type of product to another that's been most popular with the UK
5:34
I think what if I, maybe it's a nice thing to go back to the COVID brought to us
5:39
It was very much about, okay, I am at home. I think this functionality became more important than ever
5:45
It's always been there as part of our DNA that, yes, we might want to make nice design furniture, but I need to be practical
5:51
and functional. And when then again, you are coming into, okay, I'm going to work from home
5:56
for example. I think you put a lot of kind of needs into really have optimized my space
6:03
I might suddenly be a tighter on space with the whole family at home. And that really has pushed
6:07
storage, working from home or home office, you know, whether today remote working and so forth
6:12
That has really been a strong trend that has, again, something we have had the whole time
6:18
but we can also see even accelerated in the last couple of years. Do you see that continuing
6:22
Because there is a move now for companies in the UK for inviting their employees back to the office full time
6:29
Yeah, I still think it's going to keep doing. I believe a lot in the balance of things
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I still think, yes, we're going to come more and more, call back to the offices, but that does not take away that
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you know, if I get into understanding how I could actually live my life at home
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and suddenly you see how many possibilities there are. There are many who lives in small space
6:49
And we happen to be champions in small space. And if you buy small things, I think you're going to create an interest, hopefully
6:55
you only just keep buying, I would say, that type of functions. Are you a fan of IKEA's products yourself
7:01
Do you have many in your home? Is your home just an IKEA catalogue? No, I have to say, yes, right
7:07
No, but honestly, of course I have. I have address as well
7:10
But I think I have a core of IKEA. I think there are things that I think we are super good at
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I think in general we are good, but I think we're very good when we're very good. comes to the kind of storage, the bedroom and the kitchen stuff that we have
7:23
It kind of a core of the DNA we have I think we have personally I love we have something called the PS range which is coming back which is a fantastic way also democratic design So yes I proud to have IKEA products at home actually
7:37
I think it's important. Do you have any say in the products that IKEA sells
7:42
I think not me personally, but I think we as an organization. UK has a big market for us
7:47
And of course, again, we're doing a lot of home visits. And of course, we are giving feedback to our product development
7:52
what's important for UK. So indirectly, you're always part of influencing. Then we have obviously one offer
8:00
What happens with that offer, though, we can of course recognize that certain style groups
8:05
colors and even functions can be more important for the British consumers than maybe the Germans or the Swedes or whatever
8:12
So in that sense we all have an influence and I hope also that even though you could say that job we are having in UKA is to bring the offer to the market
8:20
market. We can't not all be product developers as much as we love it. I still think we have
8:26
an important job to bring that feedback back and what is the UK consumer telling us. And that we
8:30
do regularly. Obviously you've worked at IKEA for such a long time, but you did have that break
8:35
at Class Olson and then you decided to come back to your current role. Talk to me about
8:40
boomerangling from staying at IKEA to going to Class Alston and then coming back. Tell me about
8:45
that transition. Have you learned anything from that experience? I think of course it's a personal
8:50
journey there and I think for me it was like that I'd been with IKEA for a number of years
8:55
when I left IKEA and actually I was actually here in UK when I left IKEA and then there were
9:00
professional reasons why I had got this opportunity and I came to another retailer with Swedish
9:05
company with very strong values and actually fantastic company also to work for and I think I was
9:10
fortunate enough to work there going from one company with a strong value base into another
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company with a strong value base and a clear purpose so for me it was more a
9:19
transition, an easy transition there actually, maybe the difference was a smaller. I worked
9:24
more with the totality of everything. I was vice president there, second income on, you could say
9:29
and then eventually the CEO as well. And I think there was very much about the totality
9:34
And a public company also, which was good for me to be exposed more to the stock market and
9:41
the financial. I mean, there's a different kind of questions on the performance and quarterly
9:44
reports and all these things, which in IKEA we don't really have, even though we get a lot
9:49
I think that was a good learning and I can of course work in test yourself
9:54
I can talk about me, it's always good to test something else. But then equally coming back was actually also easy sound like I can arrogant here
10:03
But it was a nice step back and I felt very much at home
10:07
I think again that the key of course has started this really transformation journey
10:11
So I came back to an IKEA that has decided to take next leap and it was also very interesting
10:16
And then I actually have to say finally I love this country. And I was fortunate to have the opportunity to go back to London and to UK, which are just happy
10:25
You say you obviously dealt with the stock exchange during you're at Klasolson, and you don't have to deal with those sort of pressures and things like that
10:33
Now you're at IKEA. What's your perception of the London Stock Exchange, because it's got very public issues at the moment
10:41
No, I don't have any perception about it. I shouldn't say that. I don't have any, honestly, I don't have so much to say about that. I think maybe if my point was more
10:49
I think actually can be good to be working in public companies. Well, you'll learn, you're in a good way also scrutinized, right
10:54
So I don't mind that at all. Then I think maybe coming to a key, of course, we are working for long term
11:00
and we want to grow and we want to be profitable growth in order to kind of finance our investment
11:05
So it's not like we are taking seriously about how we perform
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But maybe then the long term thinking can be there for us and we can also
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which I think we had also in Claus Olson, right, to be clear. But I think again, here coming back, it is more that, again, we are working more in our agenda here
11:23
So we shall mind. Do you think it is easier to think more longer term when you work for a private company rather than a listed one
11:30
I think it takes talking about ownership anyway. You can obviously have a listed company with strong owners who can still be very long term
11:39
Then I think in IKEA's case, if I speak about that instead, I think one of our strength is we are long term
11:45
And we're a long-term commitment in how we look at investments. And that goes overdoing here as well, right
11:50
And I think that I can say that that's good for us. I think it's good for our coworkers
11:55
It's good for our consumers in this case. Obviously, you rejoined IKEA April 2019
12:03
Yeah, correct. 11 months before the UK's first pandemic lockdown. Looking back over the pandemic
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are you satisfied with how IKEA reacted and supported its customers and its employees
12:16
Yeah, I am. I think overall we took a big responsibility for our co-workers, but kept all our coworkers
12:23
We paid all our coworkers ourselves because I do that way and I'm very proud of that
12:27
I'm proud of the way we manage also towards the consumers, sustain and transform ourselves
12:33
And really, you know, we closed all the stores obviously for 17 weeks, every door now, and
12:38
still operating catering to supply products. I think it was fantastic in many ways we did
12:43
No one is perfect. I think overall we took responsibility in particular for our coworkers and also then, hopefully also the consumer felt we were there for them when they needed our products
12:53
But I mean, COVID in a way really support our transformation. We had to change
13:00
At the beginning of COVID, we had basically, we were the main kind of online business was supported from more the centrally where we had
13:10
What we have? And then we realized that's not going to be enough capacity. what can we do with our stores? We have co-workers there and then suddenly we transformed into
13:17
the different way of supplying. So in many ways a lot of learning testing out
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entrepreneurship which I think is one of the strengths we have as a company. But also learned a lot
13:27
about taking responsibility, leadership. We have many heroes in many co-workers that took a heck of responsibility in tougher times. I know they don't like to look
13:38
back too much on your finances but you had a very good last one of your years
13:43
in the UK. But generally the perception is that UK retail is struggling at the moment
13:48
You know, we've just had the body shop going into administration. How is IKEA bucking the
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trends and what's your perception of UK retail as a whole? I think, I think we have a strong year behind us and there's no secret and of course we're happy
14:01
about that. But I think where we are right now is of course, a bend, you can say, transforming the
14:06
business again. We are lowering our prices a lot actually. We are investing in under $25 million
14:10
in 2,500 products basically lowering our prices because it's time to give back or it's time
14:17
to start to go that trend, right? I think what you see today in retailing is it's a fairly tough climate
14:23
It's very much getting the traffic back also to our sales channels in general
14:27
And I think that, but we are, I would say, optimistic about that
14:33
We think we are doing the needed things in, again, the way we invest in new meeting points
14:38
and our supply is set up. And also then how we invest also in the new lower prices
14:42
So you're lowering prices across the broad in the UK? We are
14:46
And how much is that going to cost you? And why are you giving back, why are you doing that now? No I think we need to do it to be affordable and the cost of living And we are pretty clear over the thin wallets And we understand that we the low price is important for us and also for our consumers so that why we are
15:03
you can say give it back but there's also a supply chain of course that is it's changing right so i think
15:07
it's as part of the whole inflation coming down it's also part of the home furnishing right so
15:13
that's why we do it to remain competitive yeah has ikea you know at the end of
15:18
In 2023, I think IKEA has said that it was having some challenges with the issues that are currently going on in the Red Sea in the Suez C
15:26
Is that still an issue for IKEA? Is that still impacting the supply chain
15:31
Not for us here. We are not having major issues right now with it. I can't say that. I think our service levels is roughly where there need to be
15:39
So we are we're coping as it is right now. Every time that I've written about IKEA in the past, people always asked, are you opening a new store near me? It seems to be
15:48
a question that comes up again and again. And obviously, last year, you opened up some concept stores in the northwest of England
15:57
Antry, Preston, I think the two of them, stopports. Correct. What's been the reaction to those
16:03
Why have you decided to take that on as a strategy? And what's the future plan for that
16:08
The reason is that we see more opportunities to build around, you can say, if we have an anchor store, let's say, Warrington or whatever you call it
16:15
It's that cater for the totality of the offer. And it's a more that destination shopping
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But we also know that if we look on where we have our customers and where we are kind of accessible
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we see we're still in the physical expansion. Besides the online, we can complement this current store network
16:34
In this case, we see potentially in the kitchen business. And partly, you could also say wardrobes, a bedroom
16:39
You can say planning type of furniture that we can actually open up
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more kind of smaller showrooms, you as a customer can come in. You get the same, you get even better, not better
16:50
but you have access to planning straight away. You can sit there and you do planning
16:54
And for the kitchen customer, that's actually an excellent kind of shopping experience, right
16:58
And that's why we see that we can become more accessible without having you to travel them so long
17:03
And you can come in for certain parts of a range offer and also click and collect to those meeting points
17:08
And that's something we are, we are testing and trialing, as you say. And we see really positive signs
17:13
but it's also a complement to the network. Then you have the Hammersmiths and what to be in Oxford Street
17:20
We call them extra small store, which is something bigger, where you can take away the HFA or the home furniture accessory side
17:27
and then planning. So we are getting more of a, maybe not the wrong word, complete portfolio
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but we understand that besides online, the biggest stores, we can penetrate more in UK
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And it's a big potential. So you're looking to open more of those? Small stores are the UK
17:45
I would say so. And I would say that physical space for us
17:48
is going to be important going forward. That's a vague general statement
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Because new stores come with new jobs as well, and that's an investment. So you're investing in the UK retail
17:59
in the high street job market, but then also cutting your prices as well
18:04
It's a bold strategy at a time like this. It is, in a way
18:09
Then we have a long-term plan. And I think we know that retail goes up and down
18:14
There are years of periods of a year that suddenly you have more challenges
18:19
than the next year or period we bounce back. I think we are
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I think honestly we are we are humble in the way we are
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we don't take things for granted but we're pretty confident in the way we see
18:30
UK going forward. We know that we have been in for many years as you said
18:34
from 87 but we still have a lot of market share to take. We still have
18:38
on your point someone wants to open in IKEA and EU. Yeah if that's going to be
18:42
if that's going to happen, which you can, we can't just open the big boxes
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I think we need to be smarter than that and understand that, yeah, the online presence
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which is soon to be 40%, like 38 and a half, if the year you were referring to
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that's going to keep growing a bit. But there is this still physical interaction that's important
19:01
And then, okay, then we can be more flexible, agile, and find different ways of
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penetrating the market. And there we see the possibilities. Are you hoping to open new big boxes in the UK
19:11
Are you just focusing on? I would say that I think the things we're doing with extra small,ig, that type of format we can see more of, I think
19:21
We have Brighton also coming up as we announced that you can see, okay, that was quite a recent announcement
19:26
So that's something we're looking into. I think there is still more to explore in the format or sizes
19:32
I think we are learning on the three things you talk about the northwest. We learn something
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When we learn something, we want it for the next generation of those shops. also going to probably do something differently, building on what we learned
19:44
At the same time, what we're learning from Hammersmith is impacting also that size
19:48
So it's probably that's the way I would prefer to look at it. Because the parent company bought the shopping center in Hammersmith, in London and in Brighton
19:57
why not? But just let the store. Why buy the whole shopping center
20:01
Because that's a way for us to support also our own. We get access to shopping centers
20:05
and that we think strategic is important. And it is a good way also, Winkan centers to
20:10
to invest and it's kind of an enabler for our retail in this case and same thing as income
20:16
investments when investing also in different parts of business so we think strategically they can
20:21
enable us I think it's great that we have that opportunity and and for us then which if we say
20:26
so I'm representing the retail leg them for us then we become a tenant and then it's kind of a good
20:31
way of doing business. Would you be considering snapping up more shopping centers
20:35
I mean the price is right yeah I would say I mean I'm not income centers right but but but
20:40
If I put it this way that we have more to expand in this country, then you could say the Inca
20:45
Sands is one way of expanding, but I would like to comment more than that
20:49
Apart from your job as UK CEO, you're also Group Sustainability Officer
20:55
I am. Let's talk about that. How important is sustainability to IKEA
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How central is it to the business model? I think like this, to be clear, my title is then
21:05
You know, I'm CEO and CSO in the same kind of way. I'm not a group
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So to be clear, but I think that title shows a little bit how important it is
21:14
It's sending insignia to me as a leader that one of the key elements of our agenda that I need to drive and take a lead by example of this around sustainability
21:23
When IKEA took the decision to transform its business or our business that were a few years ago
21:30
then it was three roads steering us. Affordability, accessibility and sustainability, all integrated in everything we do
21:39
Sustainability is very much, as you all know, it's a must. We are very clear about the goals we're having
21:45
We understand you can't treat it in silo. You need to go through everything we do from the way we're operating
21:52
the way our products are being actually produced and brought, the function they're playing in the role at home for you as a customer
21:58
And that's, it's crucial. It's not going to be in the long run. You can't sit and either I choose low-priced products or I choose sustainable
22:07
We understand that this needs to come together. together and that's why it's so important
22:11
But also in the sense of the way we are, you meet you with me because we have today
22:16
I would say this year, in IKEA year they're running them from September to August, right
22:21
We are roughly 357 EVE last mile And that something I very proud of that we achieved that in the last mile That kind of again an example of showing that we need to deliver on this circularity and the
22:36
thing around sustainability. Yeah. There's a common phrase of the moment, you know, they don't make it like it used to be
22:45
Things are made to break in a few years and you go back to the shop and you buy a new one
22:49
That comes back to sustainability, isn't it? Are IKEA products built to last as much as you'd hope that they would be
22:57
As an overall, yes, they are. I think we talk a lot about value for money
23:04
And I think we are, we pride ourselves that our outset, when we develop products
23:10
that should sustain over time. Then naturally there are different price steps on the ladder on this, right
23:15
They are everything from the lower price to lowest price to the higher price, right
23:18
There are different materials. But our ambition is that then I think there is something in me as a customer
23:24
I might have had the same chair in a certain color table for a number of years
23:28
Or I'm moving, I need a different size. My family is expanding
23:32
But then again, what we have launched and are working with is just take back
23:36
And the secondhand market also for the furniture. So you can then come back to us
23:41
We give you actually something for your products and we resell it
23:45
So the circularity of our furniture, all the furniture, all the it's very important, right? And that is something we are developing as we speak and have
23:55
launched and in this case take back service and that you have in all of stores actually in UK
24:00
And whilst you've been running the business, what's the biggest thing that you've learnt over the last few years? I think the importance of the balance of living in here and now
24:08
at the same time a little bit, have set that frame of direction. I think that I think the beauty
24:15
to get it right is that how you create that kind of foundation of
24:19
you're heading what I think we're doing with the three roads then understand that within
24:24
that you need to be very agile you need to be kind of able to be acting rather than talking and
24:33
I think also the importance of resilience of your people and if I bring that back to you ask
24:37
Maria about our co-workers I think the people we are a people business we understand without
24:43
the co-workers we won't be where we are and take care of our co-workers which you can go back to the
24:48
COVID question. I think we understand the ports of investment our co-worker to be an attractive
24:53
employee because if we have that with us, we then going to be able to do things we want to do
24:57
But again, also that balance of set a direction, but within that, be pretty agile and how you go
25:03
about it. And what kind of CEO are you? Do you walk the shop floor? Do you talk to, you know
25:10
the people on the, on the tails, stacking the shelves? Or do you stay down in London and say
25:16
No, I would say, I mean, you should ask probably someone else, but I want to be the one who is, first of all, approachable, that I walk to talk
25:27
That I, that I'm, as any other person in the organization, I am part of the family in that sense
25:36
I love to be on the floor and meet the co-workers. I think it gives me a lot
25:40
I think that, you know, there are moments of leadership when you need to be here
25:46
because there are some decisions and so forth. But I really strive to bore, not overdue
25:51
I think less Iraq as you can be, the stronger we can be as a team
25:56
and I think that ambition I have, right? And then work through people and I think also we have a
26:02
not about me necessarily, but I think what I like about us as a company
26:06
I think our value is very sound. It's not by any means that you need to be perfect
26:10
but I think if you have signed up for certain set of values
26:14
then you know you have that you strive to us that, ambition and that kind of leader I want to be who particularly walk to talk. I think that is where
26:20
was that important for me. Is it difficult to accept that you're not going to be perfect all the
26:24
time? You know, you are that figurehead. People are going to, within the organisation
26:28
naturally going to disagree with decisions that you make. Is it difficult to manage sometimes
26:34
I think that I was going to say, I don't talk about age, but I think what comes over time is that
26:40
I think that that's something you learn also about life. I think overall, of course, you need to know that
26:46
that you do more things right than you do them obviously wrong right. I think that is where the trust comes from
26:51
from your team or for the people in the organization. But within that, I think that, I think, again
26:56
if I go back to ethos of our company, is that it's okay to fail. It's okay sometimes to do a mistake
27:01
Because if you don't do any mistakes, you won't learn anything. I think that's Ingmar Kamprad, the founder of IKEA said very clearly, right
27:08
Only the ones who sleep, don't do any mistakes, basically. And I think it's so true
27:13
So I think, and that is also the spirit we want to have. We are an entrepreneurial company
27:17
We thrive a lot on our co-workers who wants to be entrepreneurial
27:22
And, of course, it's part of that. Sometimes things doesn't go as planned. But hopefully over time, the majority of things goes right
27:28
How are you taking risks? Because leading such a big company, it could be easy to think
27:33
well, I'm going to not take this risk. It might be too much for us
27:38
You said about rebelling. What's your attitude to risk? I think that it's needed to drive the business forward
27:45
I think you have a responsibility at the same time and I think that you plan of course you know what your foundation is
27:52
You know roughly about what the degree of risk you can take and and I think that within that I think you are you know this
28:00
But I would say scenario planning but the ability of being agile you take a risk I was a calculator is but you know roughly we need to take risk to move the business
28:10
Then you know you can't risk the whole foundation I think that's I think also when you work together in
28:15
a team more than me obviously to take you you you make sure that you have the right
28:21
stakeholders around the table and you make sure you have a kind of a very balanced kind of
28:25
inputs normally when the decision are taken you we can you can stand up for it if things
28:30
go pear-shaped you know we can handle it and we can move on i think that's that it to have one last
28:35
thing obviously you started on the shop floor back in the 80s and you've made it all the way up
28:42
to the position that you're in at the moment you sometimes look back and pinch yourself and think how did you get from that stage to today
28:53
No, I wouldn't say I'd pinch myself so much. I can't reflect over what journey, where I've
28:58
been in the world and what I've been experienced sometimes and what I was there, where did the
29:03
time go, how life just goes on. And I think, no, I think it's, you know, when I took the steps
29:09
because I want to go through my career with you now, because I think it's for too long anyway
29:13
But I think the thing about why did I end up taking that decision? For me, it came quite natural
29:18
I didn't think so much. I just got on with it. And I think that I had a fortunate to work in a company that let me grow
29:25
They let me see. You know, I always say to when I meet young talents or anyone, I mean, if you want to
29:30
I can offer you opportunities, you don't have to. You can stay and live in your place
29:34
Many likes to be where they are always. I happen to be one who wanted to explore
29:39
And IKEA gave me that opportunity and many others as well. And I think that's fantastic
29:43
But you don't have to do that, right? But I had that journey with IKEA, and I think I've been fortunate. Peter, thank you very much
29:48
Thanks for coming. Thanks for having me. Cheers
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