Joules Chairman to stand down, DFS chief steps in

By

Sandra Halliday

Published
May 22, 2018

Fashion lifestyle brand Joules said Tuesday that its non-executive Chairman Neil McCausland will step down on July 31 after more than five years on the company’s board.

He will be replaced the next day by Ian Filby, who is currently Chief Executive of under pressure UK furniture retailer DFS.

Joules said McCausland “has overseen a period of significant growth and development since joining the business in 2013. This has included the brand's expansion across channels and into new international markets as well as the group's successful IPO in 2016.”  

CEO Colin Porter also said that the outgoing chairman leaves the business “in great health and with multiple growth opportunities ahead.” And that's undeniable with Joules being one of the fastest growing retailers in the UK today. Via a combination of its retail stores and online, it has carved out a strong niche in a market where it seems only retailers with powerful USPs seem to be prospering.

Porter also said that Filby “is a highly respected retail executive and I am delighted that he has chosen to join Joules. I am certain that his experience and knowledge will be invaluable during the next exciting phases of the Joules' expansion.”

Back in January, Joules reported its first half results with sales surging and profits rising fast as it did well both in the UK and abroad. Its revenue was up almost 19% to over £96 million while profit on an Ebitda basis rose over 22% to £13.3 million. And international revenue rose more than 26% to account for 11.3% of the group’s total.