// Dreams directors to exit on Friday
// CMO Tony Holdway and retail director Paul Owen will leave their roles
// The news reflects the ongoing changes in the retail sector
Dreams will see two of its directors leave on Friday partly due to the coronavirus pandemic, slimming down the board from seven people to five.
Chief marketing officer Tony Holdway and retail director Paul Owen will step down, reflecting ongoing changes in the retail industry, such as the shift to digital prompted by the pandemic.
Holdway will not be replaced. Instead, marketing director Simon Moore will now report directly to Dreams chief executive Mike Logue.
Holdway, who joined Dreams less than a year ago from pizza chain Domino’s, told Campaign that his departure had “come as a bit of a shock”.
As part of the government’s recent announcement to temporarily close down all non-essential retailers, Dreams has followed suit but continues to operate online.
Logue had been considering acquisitions and a big brand campaign was also planned including sponsorship around the now postponed Tokyo Olympics.
The chief executive said the departures are due to the current crisis, as retail is changing by moving to digital.
He added that Dreams would need to come out of this by investing further in digital.
The bed specialist retailer has furloughed 85 per cent of its staff but is continuing to deliver to some customers, primarily key workers or people in special circumstances.