Dairy Farm has announced Howard Mowlem will replace outgoing Durant as the company’s new group financial director.

Prior to his new position, Mowlem was Dairy Farm’s finance director of North Asia. He also worked as the chief executive of OneResourceGroup, a Dairy Farm joint venture that provides finance and accounting services to Dairy Farm’s Hong Kong retail business.  

Under Durant's leadership, Dairy Farm has emerged as a small but strong Asian retailer.

“I am sad to be leaving the Group, but the timing is right with much of the restructuring behind us. Dairy Farm is well positioned to capitalize on opportunities in its markets in Asia,” Durant says.

Durant is returning to the UK in October, citing a need to be with his family.