22nd May 2018 10:49
LONDON (Alliance News) - Sofa retailer DFS Furniture PLC said on Tuesday it has promoted Chief Operating Officer Tim Stacey to be chief executive officer, with effect on November 1.
He will be replacing Ian Filby, who will step down from his role on October 31 after eight years as chief executive and at the company.
Filby will remain with the group on a part time basis until the end of October 2019, during which he also will be chairman of sofa retailer Sofology, during its integration into DFS.
Stacey has been COO at DFS for three years since 2015, and has been at the company for a total of seven years since 2011. Prior to that he spent 12 years from 1999 to 2011 at pharmacy chain Boots UK, leaving as healthcare development director for 10 months in 2010.
"Under Ian's leadership DFS has strengthened its position as the UK's leading upholstery retailer, broadened its customer appeal through brand acquisitions and partnerships, and created excellent prospects for long-term growth," said Chairman Ian Durant.
"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," Durant added.
Shares in DFS Furniture were up 0.8% at 242.00 pence on Tuesday.
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