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Nordstrom appoints two new members to board of directors

14
Apr '20
Mark Tritton; Pic: PRNewsfoto/Nordstrom,
Mark Tritton; Pic: PRNewsfoto/Nordstrom,
Nordstrom, a fashion retailer, has announced the appointment of two new members to its board of directors: Jim Donald, co-chairman of Albertsons Companies, board of directors and Mark Tritton, president and CEO of Bed Bath & Beyond. The company previously shared that board members Kevin Turner and Gordon Smith chose not to seek re-election to the board.
 
Donald built his career in the retail, food and hospitality industries, where he has a proven track record for cultivating strong employee engagement and bringing stability and growth to companies facing unique challenges and complex situations. Donald's more than 45-year retail career began in Florida with Publix Supermarkets and took him to his most recent role as chief executive officer at Albertsons. He also served as CEO of Extended Stay America, where he helped the US hotel chain with a successful $565 million initial public offering in 2013. Previously he served as CEO of Haggen, Inc. grocery chain and as CEO of Starbucks.
 
As president and CEO of Bed Bath & Beyond, Tritton is responsible for accelerating the company's ongoing business transformation. This includes evolving the omni-channel experience for customers, merchandise assortment, cost structure and asset base. Previously, he was the executive vice president and chief merchandising officer of Target where he oversaw all buying, sourcing, product design and development, and visual merchandising and merchandising operations.
 
"We're pleased to welcome both Jim and Mark to the Nordstrom board of directors. 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," Brad Smith, chairman of the Nordstrom board, said in a press release. "We're fortunate to be able to leverage Mark's previous brand, consumer behaviour and operational experience at Nordstrom and as a leader with some of the world's most respected brands. Jim's proven track record of leading large companies through complex and challenging environments is also valued, especially during this unprecedented moment in time.”
 
Additionally, the board announced planned changes designed to enhance its corporate governance. This will include reducing the maximum size of the board from 11 to 10 over the next two years and introducing a 10-year term limit for independent directors.
 
"We want to thank Kevin and Gordon for their significant contributions to our Board," Erik Nordstrom, chief executive officer, said in a press release.

Fibre2Fashion News Desk (JL)


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