Sofa retail chain DFS Furniture plc has confirmed that financial director Bill Barnes is to retire, with effect from 30 July 2016.

DFS also revealed that Nicola Bancroft has been appointed as its new chief financial officer, replacing Bill and moving from her current role as commercial finance director.

The transition comes into effect from 1 August 2016 as Bill remains at the group through the month to assure a smooth handover to Nicola.

Nicola, who has 29 years of experience in the retail sector, joined DFS in January 2013 from Alliance Boots where she held a series of senior finance roles, latterly commercial finance director and retail & transformation finance director. 

At DFS, Nicola has established the commercial finance function and has been responsible for strategic planning, financial planning and analysis and finance partnering supporting all business areas.