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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.
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Walmart blocked from entering New York City
Bentonville, Ark. -- Despite its interest in making a New York City debut in a new Brooklyn neighborhood shopping center, Wal-Mart Stores Inc. said Friday it was unable to agree to economic terms for a new store. Instead, developer Related Cos. struck a deal with ShopRite to open a new grocery store at the 630,000-sq.-ft. Gateway II shopping center planned for Brooklyn.