DFS, has announced that Ian Filby will be retiring as CEO to be succeeded by Tim Stacey, the current group chief operating officer (COO).
Ian Filby will also step down from the board of directors on the 31 October 2018 following eight years at the helm of the furniture retailer.
Stacey will take over as CEO on 1 November 2018 following a six-month handover period to “ensure a smooth transition”. He was appointed by the board of directors and a ‘nomination committee’ supported by external advisers.
It is understood Filby will remain with DFS on a part time basis from 1 November 2018 until 31 October 2019 when he will retire. During that time he will also take on the role of chairman of Sofology, leading the continued integration of Sofology into the broader DFS business.
Stacey has been with the company since 2011 and has been responsible for leading the omnichannel transformation of the business, he also led the successful acquisitions, integration and development of Sofa Workshop and Dwell.
Chairman Ian Durant said: “Ian has done a superb job over his eight years leading the business, both as a private and public company. On behalf of all of the board I would like to thank him for his unwavering hard work, enthusiasm and commitment for the benefit of our customers, our people and our shareholders.
“Following a rigorous internal and external selection process, we are delighted to appoint Tim to the role of CEO. Tim joined DFS in 2011 and his wealth of experience in the retail sector and his great contribution to the success of DFS as group COO for the past three years, make Tim an excellent appointment for the business. I look forward to working with Tim in this new role.”
Stacey added: “I am excited and feel hugely honoured to be taking on the position of CEO at DFS. I’m really looking forward to developing our fantastic people and building our business together in the future.
“As COO, I have hugely enjoyed working with Ian and every single member of the DFS family to further establish our position as the clear market leader and I’m confident that we have many exciting opportunities to drive our business forward.”