.Nordstrom is making changes in order to evolve.
Nordstrom Inc. has appointed Jim Donald, co-chairman of Albertsons Companies, and Mark J. Tritton, president and chief executive officer of Bed Bath & Beyond, to its board.
The Seattle-based Nordstrom said Friday that Donald built his career in the retail, food and hospitality industries, where he cultivated strong employee engagement and brought stability and growth to companies facing challenges. Aside from Albertsons, he held ceo roles at the Extended Stay America hotel chain, the Haggen Inc. grocery chain, and Starbucks.
“Their wealth of knowledge and experience in the retail sector will be invaluable as we look toward the future and how we can continue to evolve and improve the customer experience,” said Brad Smith, chairman of the Nordstrom board. The new board members would be valuable if Nordstrom, which excels in fashion, footwear and service, maneuvers to expand food and home offerings.
Additionally, Nordstrom has decided to reduce the maximum size of its board from 11 to 10 members over the next two years and introduce a 10-year term limit for independent directors. Nordstrom directors serve one-year terms. “We want to thank Kevin and Gordon for their significant contributions to our Board,” said Erik Nordstrom, Nordstrom’s ceo. “Both were committed and dedicated leaders who cared about the success of Nordstrom for our employees, customers and shareholders.”
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