&w=3840&q=100)
Ikea India appoints new CEO, Patrik Antoni, to drive growth plans
Antoni, together with the country retail manager and chief sustainability manager, will strengthen the company's leadership setup in India, the company said in its release.
The release stated, 'Patrik will lead the company's ambitious growth plans in India, leveraging his 20+ years of Ikea experience and deep knowledge of the total Ikea value chain. In this new structure, the CEO will take on holistic responsibility for retail operations in India and common topics across Ingka companies.'
Antoni's experience in India includes a five-year stint as deputy CEO, which will enable him to navigate the market's unique opportunities and challenges. He was also part of the initial Ikea India retail team that opened the first store in Hyderabad.
The appointment of Antoni as the India lead comes as the company accelerates its growth and expansion in the country, capitalising on India's economic development. The strengthening of leadership in India underlines the company's commitment to deepening its presence and creating a bigger impact through Ikea's business operations in India, the release added.
Susanne Pulverer, current Country Retail Manager & CSO, has decided to move on and leave her role and Ikea. Susanne has had an incredible 28-year journey at Ikea, with over eight years spent in India across three different stints, driving commercial growth and transformation. "I am very grateful for the incredible years at IKEA with many leadership learnings and unforgettable experiences in India, this beautiful country with its beautiful people. While now handing over to a new leadership, I am excited to start a new chapter in my life,' she said. The recruitment for Susanne's successor is currently ongoing.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
a day ago
- Mint
Alexander Isak's transfer talks heat up: Newcastle striker seeks new opportunities
Alexander Isak, Newcastle United's star striker, has sent shockwaves through the Premier League by informing the club he wishes to explore his options this transfer window, according to reports. The 25-year-old Swedish international's decision has sparked interest from top clubs like Liverpool, while Newcastle remain steadfast in their £150 million valuation. Alexander Isak has not requested a transfer officially, but his openness to new opportunities has Newcastle on alert, according to Sky Sports. Contract extension talks have stalled, though his current deal lasts three more years, giving Newcastle a strong negotiating stance. The club insists he is not for sale. Last season, Isak scored 27 goals in 42 appearances. Alexander Isak has not been named in Newcastle United's squad for their pre-season tour of Asia as speculation over his future continues to grow. However, manager Eddie Howe said that Isak would be part of the squadfor their games in Singapore and South Korea. Newcastle named a 30-man squad but said Isak "misses out with a minor thigh injury." He was not part of the squad during Saturday's 4-0 defeat at Celtic as Newcastle began their pre-season fixtures. "It's difficult for me to give 100% clarity on any player," Howe said after the Celtic game. However, Eddie Howe also expressed that he is confident about Isak's stay, 'Alex is happy at Newcastle. He loves the players, staff, and team, and I have had no issues with him.' Liverpool have emerged as the primary contenders for Isak. The Reds made an informal approach last week but were deterred by Newcastle's £150 million price tag. Instead, they signed Eintracht Frankfurt's Hugo Ekitike for £69 million, a player Newcastle had previously bid for. However, BBC sources confirm Liverpool remain 'huge admirers' of Isak. This keeps the door open for a potential late-window bid. Newcastle United are actively exploring attacking reinforcements, with Brentford's Yoane Wissa a key target. The 28-year-old Congolese forward, who scored 19 Premier League goals last season, is eager to join a Champions League club. However, Brentford are reluctant to sell after losing Bryan Mbeumo to Manchester United for £71 million. The pair combined for 39 league goals, pushing Wissa's valuation to £40 million, while Newcastle aim to secure him for £35 million. Newcastle's financial stability, backed by Saudi Arabia's Public Investment Fund, means they face no pressure to sell Isak. Compliant with profit and sustainability rules and with Isak's long-term contract, the club can demand a premium. Few teams can afford the £130-150 million valuation. Manchester City are focused on Erling Haaland, Chelsea have signed Liam Delap and Joao Pedro, and Arsenal are nearing a deal for Viktor Gyokeres, reducing the pool of serious contenders.
Time of India
a day ago
- Time of India
Kaapo Kakko, Seattle Kraken's $12.75m gamble: Who is the NHL's Finnish enigma?
NHL-Seattle Kraken right wing Kaapo Kakko looks on during an NHL hockey game against the San Jose Sharks, Jan. 30, 2025, in Seattle (AP Photo/Lindsey Wasson, File) Kaapo Kärki Kakko was born on February 13, 2001, in Turku, Finland; his hockey roots run deep' raised by a businessman father and an educator mother. Kakko was taught the value of dedication early on. He joined TPS Turku's youth system and quickly outshined his peers. His breakout season in the Finnish Liiga came in 2018–19, where he tallied 22 goals in 45 games an astonishing feat for a teenager. Kaapo Kakko Scores Off The Faceoff For First Goal With Kraken Draft day glory and growing pains in New York The New York Rangers selected Kakko second overall in the 2019 NHL Entry Draft. He entered the NHL as a generational talent, but despite his sky-high potential. But he never fully took off during his five and a half seasons in New York. His play was often solid but inconsistent; he showed flashes of elite skill. But struggled with role definition and offensive production. In his final season with the Rangers, he scored 14 goals a number many felt fell short of expectations. Kaapo Kakko Is Proving the Rangers WRONG! Seattle Kraken place a bold bet on Kakko In a mid-season trade during 2024–25, Kakko landed in Seattle. The move seemed like a quiet reset until the Kraken stunned the NHL world by signing him to a three-year, $12.75 million contract in July 2025. Critics called it a gamble. Supporters saw it as an investment. Seattle's front office clearly believes Kakko can still become the star he was projected to be. With more responsibility and a fresh environment, the Kraken are hoping he'll thrive under pressure. The quiet life of Kaapo Kakko off the rink Despite the NHL spotlight, Kakko remains down-to-earth;he is currently single and values privacy. But maintains strong ties with his family in Finland; fluent in Finnish and English, he's also learning Swedish. His estimated net worth is $3 million, coming from his NHL salaries, endorsement deals. And small investments, and off the ice, he's known for supporting children's charities. And youth sports programs, particularly in his home country. FAQs How old is Kaapo Kakko in 2025? He is 24 years old. He's born on February 13, 2001. What team does Kaapo Kakko play for in the NHL? He currently plays for the Seattle Kraken, having been traded from the New York Rangers. What position does Kaapo Kakko play? He is a right winger. Why did the Kraken sign Kaapo Kakko to a $12.75 million contract? Seattle believes in his untapped potential and is giving him a fresh chance to break out as a top forward. With the Kraken backing him fully, Kakko now faces the biggest test of his career. Also Read: Edmonton Oilers linked to $27m veteran Jonathan Marchessault, pressure mounts as Oilers eye scoring boost for NHL 2025-26 season For real-time updates, scores, and highlights, follow our live coverage of the India vs England Test match here. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
Time of India
a day ago
- Time of India
Nokia's India net sales fall 6% on-year to ₹3,148.05 crore in Q2FY25
NEW DELHI: Finnish telecom gear maker Nokia reported a 6% year-on-year decline in its India net sales to 310 million euros (~₹3,148.05 crore) in the second quarter of fiscal year 2025 (Q2FY25), mainly dragged by a fall in its mobile networks business. Nokia, which follows the January-December financial year, had posted net sales of 329 million euros in Q2FY24 for the India market. 'Net sales in Asia Pacific (APAC) decreased in the second quarter, driven by declines in Mobile Networks, particularly in Greater China and India. Network Infrastructure (NI) saw broad-based growth across APAC. Cloud and Network Services saw growth in India and Rest of APAC which was offset by a decline in Greater China,' the vendor said in its earnings statement released on Thursday. This is in sharp contrast with its Swedish rival Ericsson, which has reported a 28% year-on-year fall in sales in the market area South East Asia, Oceania and India at 5.5 billion crowns (~₹4,917 crore) in the April-June 2025 quarter, weighed down by a pause in fifth-generation (5G) network investments by Indian telecom carriers. India, however, remained second among the top five countries by sales at 6% in the January to June period of 2025 for Ericsson, a company spokesperson told ET earlier. Nokia's mobile networks' net sales slid by 17% year-on-year in Q2FY25, primarily due to a decline in the Americas, and to some extent, APAC, while Europe, the Middle East and Africa (EMEA) grew slightly. 'Mobile Networks' net sales declined 13%, primarily related to the prior year settlement benefit and also due to project timing in India,' Justin Hotard, president & CEO, Nokia, said in the earnings statement. Nokia's cloud & network services net sales increased by 10% year-on-year in Q2FY25, mainly driven by core networks. 'In APAC, growth in Asia Pacific and Japan along with India was partially offset by a decline in Greater China,' it said. The network infrastructure net sales were up by 25% year-on-year in the fiscal second quarter of 2025, which included a full quarter of Infinera's financials. Nokia's network infrastructure business comprises its home broadband and optical transmission equipment business, which serves mostly enterprises, governments and webscalers, among others, while mobile networks involve supply of telecom equipment for telcos' retail network such as 4G and 5G. READ MORE | Ericsson's sales in South East Asia, Oceania & India slump by 28% on-year in Q2FY25 Nokia lowers full year operating profit outlook Nokia's overall sales grew slightly by 2% year-on-year to 4,546 million euros in Q2FY25. 'We are facing two headwinds to our full year operating profit outlook, which are outside of our control: currency due to the weaker US Dollar, and tariffs. The currency has an approximately 230 million euros negative impact relative to our expectations at the start of the year, with 90 million euros resulting from non-cash venture fund currency revaluations,' Hotard said. He added that the current tariff levels are forecasted to impact operating profit by 50 million euros to 80 million euros, inclusive of those in Q2. 'Considering these two headwinds, we decided it was prudent at this point to lower our comparable operating profit outlook to a range of 1.6 billion euros to 2.1 billion euros from the prior range of 1.9 billion euros to 2.4 billion euros,' the chief executive said. In India, Ericsson along with Nokia and South Korean Samsung, have commercial 5G deals with top telecom carriers Reliance Jio , Airtel, and Vodafone Idea (Vi). While Vi switched on its commercial 5G services in March, and is currently focused on expansion in 17 priority circles by August, its peers Jio and Airtel already have nationwide 5G networks and provide 5G FWA to customers. Earlier, Ericsson and Nokia saw a surge in India sales from the fourth quarter of 2022 and first quarter of 2023, respectively, shortly after Airtel and Jio began rolling out 5G networks nationally from October 2022. However, both telcos have concluded their 5G network deployments in the first half of 2024 and are now focused on boosting revenues and driving monetisation of their 5G businesses.
