Bed specialist Dreams has hired former Woolworths boss Steve Johnson as chairman, replacing John Clare, who is retiring from the retailer.
Dreams chief executive Nick Worthington said: “Steve will add an extra dimension to a strong management team helping ensure continued success of the business.”
Johnson was credited with getting Focus DIY into shape to enable a sale to Cerberus for £1 in 2007. He was also hired to help revitalise the fortunes of ailing Woolworths before its collapse.
Before joining Focus, Johnson, a former Bain & Company management consultant, spent seven years at Asda where he carried out a number of roles, culminating in marketing director. He has also been an independent director at Russian grocer Lenta.
Johnson said: “Dreams is a fantastic business and I’m delighted to be joining. Our aim is to continue to grow Dreams, delivering a great night’s sleep to our customers while creating value for stakeholders.”
Johnson joins amid a tough time for the furniture industry. Earlier this month Retail Week revealed that Dreams EBITDA fell from £25.1m to £11.2m in the year to December 24, as it prioritised market share and business investment in a punishing big ticket environment.
Clare, former chief executive of Dixons, has been chairman of Dreams since private equity firm Exponent bought the business in 2008 for £200m. He aims to slim down his non-executive director responsibilities. He is director at Dyson, as well as chairman of property firm Capital & Regional.
- Find out more at Dreams’ Retail Week Knowledge Bank profile:Retail-Week.com/dreams