DFS has announced the appointment of Tim Stacey to succeed Ian Filby as chief executive of the furniture retailer.
After eight years with DFS, Filby will be resigning as both chief executive and a member of the board of directors on October 31.
Meanwhile Stacey, who has been with DFS since 2011 and is currently the group chief operating officer, will officially begin his tenure as chief executive on November 1 after a six month handover period.
Filby will remain with the DFS Group on a part time basis from November 1 until October 31 when he will retire.
During that time, he will also take on the role of chairman of Sofology, leading the continued integration of Sofology into the broader DFS business.
Filby is also reportedly set to become chairman of fashion retailer Joules from August 1, succeeding Neil McCausland.
“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,” chairman Ian Durant said.
Stacey has been credited for leading the omnichannel, supply chain and property transformation of DFS, as well as the successful acquisitions, integration and development of Sofa Workshop and Dwell.
Prior to DFS, Stacey spent 12 years at Alliance Boots – now known as Walgreens Boots Alliance – where he was the multichannel director for Boots.
“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.
“I am excited and feel hugely honoured to be taking on the position of chief executive at DFS,” Stacey said.
“I’m really looking forward to developing our fantastic people and building our business together in the future.
“As chief operation officer, 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.”