IKEA (part of Ingka Group), the world’s leading Swedish home furnishings retailer, announced the appointment of Murali Iyer as its new Chief Financial Officer for its India business. Murali takes over from Preet Dhupar who has moved into a global role within Ingka group. Murali will be part of the IKEA India leadership team reporting to Susanne Pulverer, CEO & CSO (Chief Sustainability Officer)
As the Chief Financial Officer, Murali will lead IKEA India’s CFO function with the purpose of profit, leading the finance controlling, business navigation, legal, tax, customs, and business risk & compliance teams.
Commenting on his appointment Murali Iyer, Chief Financial Officer, IKEA India, said, “I am excited to begin my journey in IKEA India and contribute to its ongoing growth journey. We are focusing on our priority markets and building a strong home furnishings foundation through our omnichannel expansion to be more accessible, affordable, and sustainable for the many people”
Murali brings with him over 22 years of successful track record in financial leadership, having worked with the Volvo Group in India and Sweden in multiple roles. With a keen business acumen and curiosity to learn, his experience across geographies and cultures has enabled businesses to overcome challenges for an inclusive growth.
ABOUT INGKA GROUP
Ingka Group, the largest IKEA franchisee operates 469 IKEA stores, shops, and planning studios in 63 markets, 47 Ingka Centres meeting places. With over 5 billion visits online and 775 million IKEA store visits, IKEA is truly reaching out to many more people in an omnichannel way. The Ingka revenue for FY21 is close to 42 billion euros. We are taking bold steps across our business to help achieve the IKEA commitment to become a climate positive and circular business by 2030. EUR 6.5 billion has been committed as investments in renewable energy.
About IKEA India
IKEA is growing in India. India is a prioritized market for the Ingka group for future growth. Our ambition is to reach many more people in India through a strong omni channel presence. We are today online in Mumbai, Pune, Hyderabad, and Bengaluru. Three big format IKEA stores are operational in Hyderabad, Navi Mumbai and Bengaluru. A city center store opened in Mumbai in Dec 2021 and another one will open in 2022. Along with Retail, IKEA Purchasing, IKEA Foundation, IKEA investment, Ingka centres, Global Business operations (GBO) and other entities are investing in India to create an even bigger impact as ONE IKEA. IKEA remains invested and committed to India. IKEA has been sourcing from India for close to 40 years working with around 65 suppliers, 48,000 direct employees and 500,000 people in the supply chain in India producing for IKEA stores worldwide.