James Dow prepares to hand over reins to anointed successor at DSW
James Dow is to step aside as CEO of the listed professional services group he founded in 2002.
Shru Morris, who joined the Group as Deputy CEO in August 2024, has today been appointed CEO Designate.
She will succeed Dow on 1 April 2025, when he steps down as CEO. In a statement to the stock market this morning, she is billed as “a highly experienced finance professional and CEO with a strong background in professional services, specifically law.”
She is understood to have played a key role in DSW’s acquisition of DR Solicitors last month, its first move into legal services.
James Dow
Dow quit KPMG where he was a high-flying corporate finance partner in 2002 to co-found the business with Jon Schofield and Mark Watts in 2002, he spearheaded the Group’s IPO strategy, and will remain on the board, as Executive Director, with effect from 1 April 2025.
He will also keep an ambassadorial role for both DSW and the international Pandea network.
Dow also said this morning that “exceptional levels” of M&A activity in September and October boosted the half year figures, as businesses looked to complete transactions ahead of the Autumn Budget.
However, deal volumes in November and December are likely to be subdued, as many transactions were brought forward to beat the Budget.
The business expects full year revenue to be c.£23.0m (FY24: £16.0m) – a 43.8% increase on prior year and “adjusted Pre-Tax Profit” to be c.£1.45m (FY24: £0.5m) – a 190% increase on prior year.
For the half year DSW made revenues £7.8m (H1 24: £7.3m), as M&A activity gradually improved across the Period and gained momentum in September 2024, with “adjusted” pre-tax profits of £0.2m (H1 24: £0.2m).
The board also announced that Pete Fendall, the Group’s COO and Interim CFO, has today been appointed Chief Finance and Operating Officer.
Heather Lauder, Chair of DSW, said: “Shru has already made a significant impact on the business in the short time since her appointment as Deputy CEO. Her energy and commitment to the Group and to furthering James’ vision is positively tangible, and James hands the reins to a woman who shares his ability, vision and values.
“I would finally like to add what a pleasure it is to recognise the contribution Pete has made to the business, since joining us in 2021and, in particular, over the last six months; his appointment as Chief Finance and Operating Officer is thoroughly deserved.
“As a board, we look forward to a successful future under Shru and Pete’s management and to supporting them in their new and future roles, as they work to further the Group’s ambitions.”
