DFS chief executive announces retirement
DFS Furniture has announced that CEO Ian Filby will be retiring after eight years and will become chairman at Sofology as the merger of the two brands moves forward.
Filby will be succeeded by Tim Stacey, currently chief operating officer when Filby steps down as CEO and from the Board of Directors on the 31 October.
Stacey, who has been with Doncaster-heardquartered DFS since 2011, will take over as CEO on 1 November following a six month handover period. Filby will remain with the Group on a part time basis from 1 November until 31 October 2019, when he will retire.
During that time, Filby will also take on the role of chairman of Sofology, leading the continued integration of Sofology into the broader DFS business.
DFS today legally completed its acquisition of Sofology for £25m in December after being given the go ahead by the Competition and Markets Authority.
Stacey 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 successful acquisitions, integration and development of Sofa Workshop and dwell. Prior to DFS, Stacey spent 12 years at Alliance Boots, where he was Multi Channel Director responsible for Boots.com; he is a qualified accountant having trained with KPMG.
Ian Durant, Chairman of DFS Furniture, 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. 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. 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.”
Filby added: “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.”
Stacey said: “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.”
