DFS chief financial officer to step down
Furniture retailer DFS has announced that its chief financial officer has informed its board of his intention to step down.
John Fallon will not stand for re-election at the company’s AGM on 22 November, although he will remain with the retailer as chief financial officer for the remainder of its first half to ensure an orderly hand over. This means he will leave DFS in mid-January 2025.
Fallon said: “The DFS Group is a great business, with many exciting opportunities ahead – and I am sure that the business will make the most of those opportunities in the years ahead.
“I’ve enjoyed my time with the group but now is the right time to start thinking about my next executive role. In the meantime, I am looking forward to continuing to work with the team through the Christmas trading period.”
DFS has now started an external search for his replacement. Fallon joined the retailer in November 2022 after a long career at the Asda supermarket chain.
Steve Johnson, DFS chair, said: “I’d like to express our thanks to John for his contribution as CFO. During his time with us, he has helped navigate the DFS Group through a challenging period and leaves a resilient business, well placed to grow. He has been an asset to the board and we wish him all the best as he considers his next executive role.”
