DFS Furniture chairman to retire following AGM

DFS Furniture added that following the conclusion of an externally led recruitment process, Steve Johnson had been chosen to succeed Durant, subject to his re-election as chair of the group's remuneration committee by shareholders at the AGM.

Johnson joined the DFA board in December 2018 and was said to have "considerable retail experience", having previously held several senior roles with major UK retailers, starting his career with Asda and most recently Matalan.

Chief executive 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."

Reporting by Iain Gilbert at Sharecast.com