Nordstrom announces Brad Smith as chairman of board of directors

By

Gabriella Lacombe

Published
Aug 30, 2018

American department store Nordstrom Inc. has announced that the company's current board director Brad Smith will take on the additional role of chairman of the company's board of directors beginning in November of this year. 

In his new role with Nordstrom, Smith will replace the company's current Chairman of the Board of Directors Phil Satre, who will continue to work on the board. 

"Brad's leadership and extensive experience in the technology industry has proven to be invaluable to Nordstrom," said Satre. "As Chairman, we'll continue to leverage his expertise to support the company as it makes progress against its goal to be the leading fashion retailer in today's digital world."

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Smith began his work for the Seattle-based corporation's board in 2013, and previously served in several sales, marketing and management roles with companies like ADP, PepsiCo, Seven-Up and Advo, Inc. He is also a former director of Yahoo Inc.

Earlier this month, Nordstrom's board of directors began a program to repurchase up to $1.5 billion of the company’s outstanding common stock in an effort to increase the department store's stock value.

Currently, there are 372 Nordstrom stores located in 40 states, as well as stores in Canada and Puerto Rico.