Update from our CEO: Halfway through an unpredictable FY23

Dear colleagues,

We are halfway through FY23 and the world around us continues to be very unpredictable. We have followed the devastating earthquake disaster in Türkiye and Syria, and JYSK and Lars Larsen Group have donated a total of 2 million Danish kroner to the Red Cross and UNICEF, who are present and provide emergency aid in the affected areas. Our thoughts are with the victims and families. 

From a business perspective, JYSK continues to successfully navigate the global challenges that we and so many other companies face at the moment, such as the inflationary pressure, continued supply chain disruptions and declining customer buying power.

In a week, it will be one year since Russia invaded Ukraine and started a war none of us expected or could have imagined. The human tragedies and destruction we are witnesses to are devastating and we support the victims of the war as best we can through humanitarian organisations. The war has also exasperated global challenges caused by Covid-19 and it continues to affect global businesses. Throughout all of this, our Ukrainian colleagues continue to impress us with their will to keep our stores open in the country and deliver results despite the tragic circumstances.

From a global JYSK perspective, the transformation of One JYSK is nearing completion. In the first weeks of the calendar year 2023, we successfully “flipped” our 3 distributions centres in Germany to the same planning system as the rest of JYSK. We now have a unified way of working across all of JYSK and a simpler and more trustworthy ordering process for stores while delivering on our strategy, “Seamless and closer to the customer.”

I and my leadership team recognise and truly appreciate all your hard work.

In the last month we also announced that EVP Henrik Naundrup, EVP Peter Andsager and CBDO Jacob Krogh Andersen will step into Lars Larsen Group Retail with me and EVP Niels Veien from September 1st, 2023.

At the same time, Deputy CEO and President Rami Jensen announced his new EMT. JYSK is currently recruiting a new Executive Vice President for Finance, and Rami's future Executive Management Team will also consist of an Executive Vice President for Retail Development, Customer Service and Business to Business, which will be led by Carsten Weinkouff. Former CEO of SengeSpecialisten, Martin Bang, will become new Executive Vice President for Purchasing. EVP's Mikael Nielsen, Jan Verhoek, Ole Thomsen and Jørgen Lund will continue in their respective areas in JYSK EMT.

I know that Rami and the new leadership team will successfully deliver on JYSK’s long-term growth strategy while staying true to the core values that our company is built on.

On a personal note, I would like to thank you all for your dedication and positive attitude despite the current global challenges and uncertainties that affect us throughout the business. I and my leadership team recognise and truly appreciate all your hard work. 

Best regards,

Jan Bøgh
President and CEO