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Update from our CEO: Getting ready for the new financial year

Date: 11/05/2022

Author: ,

Category: Strategy

Jan Bøgh
Jan Bøgh, President & CEO, JYSK.

Dear colleagues,

Last week, I had the pleasure of meeting members of JYSK Management Team and Country Management Teams for the annual strategy kick-off at HimmerLand in Denmark.

As always, I was amazed by the energy and commitment from all JYSK colleagues, and I look forward to taking on FY23 with all of the challenges, which we will surely face.

As an example, unemployment is low and this makes it crucial for JYSK to be able to attract and retain employees.

This includes increasing the number of potential employees by ensuring that JYSK is an attractive place to work for everyone, as it is important that the employees and management of JYSK mirror the society, which we are part of.

Not only by ensuring that men and women are equally represented in JYSK, but also by making sure that JYSK is an attractive place to work for everyone – regardless of race, religion, sexual orientation and all other labels which are sometimes used to describe people.

Watch a video from HimmerLand here:

Inflation is coming

Low unemployment also equals inflation, and especially in the current situation it is something that affects all of us, because so many different factors are contributing to making it worse.

Thus inflation was already high before the war in Ukraine, which has further increased pressure.

I want to make it clear that the human tragedies from the war is by far the worst consequence, and it was really a great pleasure to physically meet colleagues from Ukraine and to hear Country Manager in Ukraine, Ievgenii Ivanytsia, speak at HimmerLand, although on a very sad background.

But from a business perspective, it is of course necessary to be aware of the financial implications as well.

I think it is fair to say that no one can foresee how the world economy will develop in the coming years. But currently it is quite clear that it will be more important than ever for JYSK to provide our customers with a great offer.

A sustainable way

All that has to be done without losing focus on the many other projects, which are also crucial to JYSK.

We still have work to do to ensure that we become one fully integrated company: One JYSK. We also have to constantly develop our business to meet the demands of the future consumer.

This includes requirements concerning omnichannel and flexibility, but it also focuses on becoming more sustainable and making our contribution to reducing the environmental footprint.

This is expected by a company of our size – and rightfully so.

That is why it is so important for me to have the possibility to look the managers in JYSK in their eyes and agree on the actions for the upcoming financial year. To share the feeling of commitment and ensure that everybody understands where we are heading, when our financial year begins on 1 September.

Until then, it is the responsibility of each country management team and each department management team to ensure that the overall strategy is transformed into concrete plans and actions, making it possible for all of us to contribute to the success of JYSK by being the best at what we do.

We have proven year on year that we are able to do that, and I have no doubt that we will succeed again.

Best regards,

Jan Bøgh
President & CEO

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