Sofa retailer DFS has announced that Ian Durant will retire as Chair of the Company and from the Board at the conclusion of the Annual General Meeting on 4 November 2022.

Following the conclusion of an externally led recruitment process, DFS has also announced the appointment of Steve Johnson as Chair, subject to his re-election by shareholders at the AGM.

Steve joined the Board in December 2018 and is currently the Chair of the Remuneration Committee. He has considerable retail experience having previously held several senior roles with major UK retailers, starting his career with Asda and most recently Matalan.

Mr Durant said: “I am proud and privileged to have been part of this organisation and look forward to seeing the further growth and success of the Group. I know Steve will be an excellent Chair and provide valuable support for the executive team and strong leadership for the Board.”

Commenting, DFS Chief Executive Officer Tim Stacey said: “I am delighted by the Board’s announcement of Steve’s appointment as Chair. His detailed knowledge of our Group and wider retail experience will continue to be invaluable as we move forward with our strategy to lead furniture retailing in the digital age.

“We would also like to reiterate our sincere thanks to Ian Durant, for his outstanding service as a Director and Chair, and wish him all the best for the future.”

Commenting on his appointment Steve said: “I look forward to taking up the position of Chair and continuing to work with the team to access the clear opportunities for the Group’s further progress.”