Betzel appointed Ikea India’s CEO

Hyderabad: Swedish home furnishings company Ikea on Monday announced the appointment of Peter Betzel as the new Chief Executive Officer for its India business. He takes over from the outgoing India CEO Juvencio Maeztu, who moves to a global role as the CFO and deputy CEO, Ikea Group, it said in a statement. Mr Betzel, who was heading the Ikea Group’s largest market, Germany, will now take the lead for Ikea’s expansion into India beginning with the upcoming launch of the first IKEA store in the country in Hyderabad this year.