DFS has announced that its CFO John Fallon intends not to stand for re-election at the company's AGM on 22nd November, and plans to step down from the board at the end of that meeting.
The group has started an external search for John's replacement. John, who joined the retailer in November 2022, will remain as the CFO throughout the remainder of H1 to ensure an orderly hand over, before leaving the business in mid-January.
Steve Johnson, chair, comments: "I'd like to express our thanks to John for his contribution as CFO. During his time with us, he has helped navigate the DFS Group through a challenging period and leaves a resilient business, well placed to grow.
Tim Stacey, group chief executive, adds: "John has made an important contribution over the past two years – and will leave the DFS Group in a strong position. I've appreciated his support and input as we have navigated some challenging macro-economic times and wish him great success in the next step of his career.
John comments: "The DFS Group is a great business, with many exciting opportunities ahead – and I am sure that the business will make the most of those opportunities in the years ahead. I've enjoyed my time with the group but now is the right time to start thinking about my next executive role. In the meantime, I am looking forward to continuing to work with the team through the Christmas trading period.
John was appointed CFO in November 2022, joining from Asda, where he served as group CFO.
