Nordstrom cousins change places in chain’s executive suite
Here’s something you don’t see every day. Nordstrom announced earlier this week that Erik and Jamie Nordstrom, cousins and members of the company’s executive team, would be swapping jobs.
Erik Nordstrom, formerly president of stores, will now be running Nordstrom Direct. Jamie Nordstrom, formerly president of Nordstrom Direct, will take over as president of stores.
"Customers don’t value channels, they value experiences, and our entire team is focused on creating innovative and relevant customer experiences," said Jamie Nordstrom, in a statement. "We believe that by making this change we can better support our team in taking an even more integrated approach in how we serve customers."
"Our challenge is to act like one Nordstrom," added Erik Nordstrom. "As we work to further leverage our capabilities across Nordstrom stores and Nordstrom.com in what today is a growing $10 billion regular price business, we believe this move will help us meet that goal."
According to a company press release, Erik Nordstrom was named president of stores in 2000. His cousin Jamie is credited for his role in the development of Nordstrom’s singular inventory platform. He was named president of Nordstrom Direct in 2005.
On the company’s recent earnings call, Blake Nordstrom, president of Nordstrom, Inc., said, "We continue to focus on the execution of our customer strategy with our in-store or online, full price of off-price. At its core, it’s about providing a superior customer experience with our investments and efforts directed toward one Nordstrom approach, that creates synergies and leverages shared assets and capabilities across all channels."
- Erik Nordstrom and Jamie Nordstrom Exchange Roles in Nordstrom Multi-Channel Business – Nordstrom, Inc.
- Two Nordstroms switch roles at company – The Seattle Times (tiered sub.)
- Nordstrom cousins switch jobs – Puget Sound Business Journal
- Nordstrom’s (JWN) Q1 2014 Results (Earnings Call Transcript) – SeekingAlpha
What benefit do you think Nordstrom derives from switching top executives around? Do you think other retailers would benefit from a similar action?