PROFILE: ANDREW STREET: Superquinn's low-profile chief executive was moved to resign publicly over the company's 'unacceptable' receivership process, writes FIONA REDDAN
ANDREW STREET may have made his name as a low-profile outsider who breached the family fortress at Dunnes Stores. But his principled stance this week on the unfairness of how receivers of the supermarket chain Superquinn are dealing with suppliers is putting his name firmly centre stage. For those who know Street, however, his stand does not come as a surprise.
Born in Holyhead, in Wales, he trained in computer science, spent his early career as a management trainee with IBM, and later joined the pharmacy chain Boots. He spent 12 years with the firm, becoming a director and member of the board.
While still a director with Boots, Street – known to be an excellent orator – was spotted by the doyenne of Dunnes Stores, Margaret Heffernan, speaking at a conference in the UK. She approached him to revamp the retailer’s technology division.
His arrival in Ireland caused a stir at the time, as he was one of the first people outside of the Dunnes family to become a director of the company and to sit on the operations board.
But it was a baptism of fire, because, soon after his arrival at the firm, in 1995, he became embroiled in the strikes that beset the retailer that year. Known for his strong people skills, Street was pulled in to negotiate with the unions.
It is then that he is thought to have distinguished himself and become someone the Dunnes family could rely on. In subsequent years, in his role as chief operating officer, he would drive such innovations as the introduction of the Value loyalty card, in 1997.
But for someone in one of the top positions in Irish retailing, Street has remained very much below the publicity radar. Although he resides in Abington, the estate in Malahide, north Dublin, that is home to celebrities such as Ronan Keating and Westlife’s Nicky Byrne and his wife, Georgina Ahern, Street has kept a low profile during his time in Ireland.
And in an industry in which people are frequently loud and brash, Street was seen as an understated voice of calm and reason.
As his 12-year tenure at Dunnes indicates, he was well regarded, and well liked, inspiring loyalty.
Those who know him describe him as “a genuinely top-class business manager”; “a safe pair of hands”; “astute”; “I can’t speak highly enough of him”; “a very personable, approachable person”.
He took on the role at Superquinn in November 2010, but those in the industry believe it is unlikely that Street would have come on board as an “expensive hatchet man” simply to sell off the chain. And his time at Dunnes would suggest that he did not take the job purely for financial gain. As he said himself this week, he joined Superquinn “to steer the company out of its difficulties and into calmer waters”.
But this was not to be. Once the axe fell on the supermarket chain, Street, who may have been trying to placate suppliers at the same time that the banks were structuring the receivership to protect their own interests, found the process “unacceptable”.
In the e-mail that he sent on Thursday to tender his resignation, he wrote that it was “distressing” to see suppliers queuing up to ask for their money back only to be left empty-handed. He also namechecked Kieran Wallace of the receiver KPMG, saying he was no longer able to work with him.
However, while those who know him see his e-mail as in keeping with his character, his resignation has nonetheless been met with a certain degree of cynicism by some. One source suggests that his imminent departure, once the deal was completed, was seen as a “fait accompli”, with Musgrave, which is set to acquire the supermarket chain to complement its SuperValu business, likely to appoint its own person to integrate the two businesses.
While the receiver, KPMG, has now been left with responsibility for running Superquinn, the outcome for the supermarket chain remains unclear.
What’s next for Street is also unclear. Although he is British, with a second house in Cornwall, his home is seen to be very much in Ireland.
But in his short time at Superquinn he may have enhanced the integrity of the brand, which was known for “crowning the customer” under Feargal Quinn.
And by standing up for the “little man” against the banks, he has certainly won the admiration of industry suppliers, who once described him as a hologram: they knew he existed, but no one had seen him do anything. His actions this week have certainly changed that.
Curriculum vitae
Who is he?Former head of Superquinn supermarkets.
Why is he in the news? He resigned this week, criticising banks' handling of his chain's receivership process.
Most appealing characteristicPublicised the plight of suppliers, many of which now face severe difficulties.
Least appealing characteristicNot sticking around. He may have been able to help suppliers more had he stayed on.