Directorate Change

RNS Number : 2819R

DFS Furniture PLC

05 July 2022

 

5 July 2022

THIS STATEMENT CONTAINS INSIDE INFORMATION

DFS Furniture plc ("DFS" or the "Company")

 Directorate Change

DFS announces that Mike Schmidt, Chief Financial Officer (CFO), has given the Board notice that after 8 years with the Company, the last 3 years as CFO, he has decided to step down in order to assume the role of CFO at B&M European Value Retail S.A..

Mike will remain with the business as CFO to oversee the year-end results process and to ensure an orderly transition. A search for a successor will commence immediately.

Further to recent  our Trading update and the successful completion of expected deliveries to our customers prior to year-end we now expect profitability to be in the upper half of the range for underlying profit before tax and brand amortisation previously indicated.*

Ian Durant, Chair of DFS, commented: "I would like to thank Mike for his leadership as CFO. He has helped to navigate DFS through a period of significant challenge, including the impact of COVID-19, and leaves a resilient business well placed to grow  in the UK."

Tim Stacey, CEO of DFS, commented: "Mike has been instrumental in the growth of our Company and supporting the Board through the external challenges we have faced over the last few years. We all wish him every success for the future."

Mike Schmidt, CFO of DFS, commented: "I am very proud of the business DFS has become. In stepping down after 8  years with the Company, I know DFS is in a strong position. It is the right time for me to pursue a new challenge."

This announcement is made in accordance with LR 9.6.11.

The person responsible for arranging the release of this announcement on behalf of DFS is Liz McDonald, Company Secretary.

*range previously disclosed on 9 June 2022 for full financial year underlying profit before tax and brand amortisation of £57-£62m.

Enquiries:

DFS (enquiries via Tulchan)

Tim Stacey (CEO)

Mike Schmidt (CFO)

Liz McDonald ( Company Secretary)

Tulchan:

James Macey-White

Jessica Reid

[phone]

[e-mail]

About DFS Furniture plc

The Group is the clear market-leading retailer of living room furniture in the United Kingdom. We design, manufacture, sell and deliver to our customers an extensive range of furniture products. The business operates an integrated physical and digital retail network of furniture showrooms and web sites in the United Kingdom and Republic of Ireland, trading through our leading brands. The Group has been established and developed gradually over 50 years of operating history. We attract customers through our substantial and continued investment in nationwide marketing activities and our reputation for high quality products and service, breadth of product ranges and price points and favourable consumer financing options.

 

END

 

 

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