Directorate Change

RNS Number : 7528F

DFS Furniture PLC

09 November 2022

 

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

Appointment of Chief Finance Officer

DFS Furniture PLC is pleased to announce that John Fallon is to be appointed as an Executive Director and Chief Financial Officer ("CFO") of the Group. John will join the Board on 14 November 2022.

John joins DFS Group from Asda, where he most recently served as Group CFO and played a key role in the recent change of ownership. During his successful Asda career, spanning more than 20 years, he has gained strong retail experience across a broad range of roles, including Commercial Finance Director, Group Financial Controller and Internal Audit Director.

Steve Johnson, Chairman, said, "I am delighted that John has agreed to join DFS as Group CFO. His previous roles in retail will bring valuable experience and insight to the Board. I look forward to working closely with John over the next few years."

Tim Stacey, CEO, said "We are really excited to welcome John to our Group. He is a fantastic addition to our leadership team and brings a wealth of retail experience, leadership skills and energy to the Group."

John Fallon, said, "I'm excited to be joining the DFS Group at this important time. I'm not only looking forward to working closely with Tim and the Board, but also the wider leadership teams in helping the Company deliver on its strategy for growth and its vision to lead furniture retailing in the digital age."

John will be paid as follows in accordance with the Company's Directors' Remuneration Policy approved by shareholders and as set out in the Company's Annual Report:

On appointment, John will receive a basic annual salary, pension and benefit provision in line with the Company's approved remuneration policy.  In addition, and also consistent with the remuneration policy, he will participate in the DFS Annual Bonus Scheme and the Long Term Incentive Plan.  Full details of John Fallon's remuneration will be disclosed in the Company's Directors' Remuneration Report for the year ending June 2023.

There are no other disclosures required under Listing Rule 9.6.13.

Enquiries:

DFS (enquiries via Tulchan)

Liz McDonald ( Company Secretary)

Phil Hutchinson ( Investor Relations )

Tulchan:

James Macey-White

Jessica Reid

[phone]

[e-mail]

About DFS Furniture plc

Our Group purpose is to bring great design and comfort into every home, in an affordable, responsible and sustainable manner.  We operate an integrated physical and digital retail network of furniture showrooms and web sites in the United Kingdom, Republic of Ireland, trading through our leading brands, DFS, Sofology and Dwell.  The Group is the clear market-leading retailer of upholstered furniture in the United Kingdom.  We attract customers through our targeted and national marketing activities and our reputation for high quality products and service, breadth of product offer and favourable consumer financing options.  We fulfil orders for our exclusive product ranges through our own three UK finished goods factories, and through manufacturing partners located in the UK, Europe and Far East, and delivered with care through our expert final-mile delivery service "The Sofa Delivery Company Limited".

 

END

 

 

BOAFVLLBLFLFFBK