Mike Logue is an interesting choice to lead the turnaround of beds retailer Dreams.
He may have limited experience of leading struggling businesses – his role as UK managing director of Mothercare was made redundant before the maternity retailer’s turnaround had got into full swing – however he knows how to run a large big ticket business.
Logue was appointed managing director of Asda Living in 2007, and was tasked with expanding the homewares and furniture chain.
In 2008 he took up the role of commercial director at Asda, and, according to his LinkedIn Account, was accountable for the £2bn turnover non-food division when general merchandise was at the forefront of the big four’s minds. In 2012 he was appointed to the executive management board.
The £2bn Asda non-food business dwarfs Dreams’ turnover, which hit £300m in the year to December 24, 2010, according to the latest set of accounts to be filed for the beds retailer.
But while Asda’s non-food arm was a much larger beast, it was also much more of a steady ship than Dreams. Asda was in growth phase – its then boss Andy Bond had laid out plans in 2010 to be the biggest non-food retailer in the UK by 2015, and while that strategy looks a bit out of kilter in today’s digital world, Logue’s job was to lead that growth in a sustainable manner.
Dreams, however, is in turnaround phase, and Logue has been tasked with the difficult job of breathing new life into the beds giant that has over expanded and underinvested in recent years.
While Logue had a taste of turnarounds at Mothercare, which he joined in 2011 and where he helped deliver the Transformation and Growth plan to return the UK to profit, he will no doubt find getting to grips with leading the struggling Dreams business – albeit under financially strong owners Sun European – an incredibly tough job in the challenging big ticket market.
In his own words, Logue is always focused on “improvement, developing teams who believe in themselves and the business and making the tough decisions that are often required”. There will no doubt be a fair few tough decisions to make before he can sleep easy as the new boss of Dreams.
- Mothercare UK managing director 2011 - 2013
- Asda, latterly as commercial director 2007 – 2011
- Gamestation, latterly managing director 2002-2007
- Phones4u director of operations 2000 – 2002
- Marks & Spencer latterly commercial controller for Hong Kong 1989 - 2000
Dreams hires former Mothercare managing director Mike Logue as chief executive
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In the news: Dreams' new boss Mike Logue profiled