Richard Baker, the chairman of DFS since 1st July 2010, is to step down in the spring. A thorough process to appoint a new chairman, led by senior independent director Luke Mayhew, has commenced. A further announcement will be made in due course, once the effective date of Richard's resignation is confirmed, and a new chairman is appointed.
Richard comments: "It will be two years from DFS' IPO next spring and it will be a good time to pass on the baton of chairing this great British company. The transition to a public company has been successful – DFS has an experienced board and a strong management team. I will remain fully involved while my board colleagues look for a new chairman."
On behalf of the board, DFS CEO Ian Filby adds: "Through his strong leadership and deep retail sector experience Richard has contributed significantly to the group's development and growth over the last six years. We are very grateful to Richard for his outstanding service as a director and chairman, and wish him all the best for the future."
