Dreams chief executive Nick Worthington is to stand down from the beds retailer after five years at the helm.
Dreams owners, Sun European, has hired headhunters to replace Worthington, who has led the business since 2008. He joined Dreams in 1997.
Sources told Retail Week that the recruitment process is in early stages.
Worthington said it “felt appropriate to make a change” after the sale to Sun European, which bought the business out of administration in March, as revealed by Retail-week.com.
“The main priority was to protect the business, our customers and suppliers, and ultimately we’ve done that,” said Worthington. “Dreams is a fantastic business and Sun want to take it forward.
“The business is now in a tremendous position, with 171 profitable stores and no debt.”
A Dreams spokesperson said: “He will remain with the business as long as required to ensure a smooth transition. The board would like to thank Nick for the enormous contribution that he has made to Dreams over the years.”
According to the Evening Standard, Sun European has hired the search firm Redgrave Partners to lead the search.
In its most recent set of company accounts Dreams reported an EBITDA fall to £11.2m from £25.1m in the year to December 24, 2010. Turnover grew 7% to £300m.
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