DFS Furniture has announced that Ian Filby will be retiring as CEO after eight years with the group, and will be succeeded by Tim Stacey, currently group COO.
Ian will step down as CEO and from the board of directors on the 31st October, and Tim will take over on 1st November following a six-month handover period. Ian will remain with the group on a part-time basis until his retirement on 31st October 2019, during which time he will also take on the role of chairman of Sofology, leading the continued integration of Sofology into the broader DFS business.
Tim has been with the company since 2011. In his current role he has been responsible for leading the omnichannel transformation of the business, developing the leadership capability across the retail organisation, and leading the strategy and implementation of the property and supply chain transformation. He also led the acquisitions, integration and development of Sofa Workshop and dwell. Prior to DFS, Tim spent 12 years at Alliance Boots, where he was multichannel director, responsible for Boots.com. Tim is a qualified accountant, having trained with KPMG.
Ian Durant, chairman of DFS Furniture, says: "Ian has done a superb job over his eight years leading the business, both as a private and public company. 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.
"Following a rigorous internal and external selection process, we are delighted to appoint Tim to the role of CEO."
Ian Filby adds: "It has been an immense privilege to lead DFS as CEO and I am proud to have worked with such a talented and inspirational team as the business has progressed and invested for the future, to develop from being a great British business towards being world-class. Tim's track record as COO puts him in great stead to lead the broader management team, as the company continues to advance and further build on its market-leading position and proven growth levers."
Tim comments: "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."