IKEA India gets a new CEO in Peter Betzel

Both people and business growth are high on Betzel’s agenda, as he takes on the challenge of expanding and leading IKEA’s business in India.

Ikea India has got a new CEO. Peter Betzel has replaced the outgoing India CEO, Juvencio Maeztu, who has moved into a global role as the CFO and deputy CEO, IKEA Group. He will be based out of Bengaluru.

Betzel has moved from Germany, IKEA Group’s largest market. Prior to that, he was the country manager of IKEA Spain. During his 25 years with IKEA, Peter has had extensive store-management experience, which he believes is the best platform to understand the core values of the business. He has in-depth experience in driving business growth in different markets and has ambitious plans to lead the India story to success.

He has also been a champion of sustainability, and one of his many achievements is delivery of one of the most sustainable IKEA stores in the world, at Kaarst Germany.

He will now lead IKEA’s expansion into India, beginning with the upcoming launch of the first IKEA store in the country in Hyderabad in 2018. India is marked as one of IKEA’s most important growth markets and the Company has committed large investments to India.

Both people and business growth are high on Betzel’s agenda, as he takes on the challenge of expanding and leading IKEA’s business in India.

The Swedish home furnishings company is planning to grow its workforce from 400 to 15,000 in the coming years, and apart from the growth-intensive plan, Betzel sees diversity and inclusion as key areas of focus.

Betzel says, “These values are what make IKEA a unique place to work for and associate with, for co-workers and partners across geographies.”

Betzel believes, “India is a vibrant, multi-cultural, multi-faceted and a really exciting market for IKEA. From what I observed in the little time that I have spent here—people here are warm, hospitable and ready to experiment with their home and surroundings. They want to have a good lifestyle and that is evident from the passion they display, in the way they work and live. As I start my new role, I look forward to establishing IKEA as a meaningful, loved and trusted brand. I will be working with the local teams to bring in a unique global shopping experience offering good quality and affordable home furnishing products to a diverse set of consumers across the country.”