DFS chairman to step down having overseen stock exchange return

 
Oliver Gill
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Cushioning the blow: Chairman Richard Baker will stay on while his replacement is found (Source: Getty)

The chairman of one Britain's best loved sofa firms will relax and pop his feet on foot stool from next Spring after it was announced he was stepping down.

DFS's chair Richard Baker will leave the post next year after six years in the role.

Read more: FTSE reshuffle: Travis Perkins, DFS and Countrywide are on the way out

"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, said Baker.

Independent director Luke Mayhew will lead the process of looking under the cushions to find Baker's replacement. And once that person has been found a more precise resignation date will be announced.

FTSE 250 firm listed in March 2015 having previously had a spell of 11 years on the stock exchange before being taken private in 2004.

Read more: Sofa, so good: DFS' shares climb as it hikes dividend

DFS chief exec Ian Filby thanked Baker for his time in the role: "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."

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