Nordstrom CFO Mike Koppel to retire in spring 2017
Nordstrom announced on Monday that Executive Vice President and Chief Financial Officer Mike Koppel will retire from the company in spring 2017. Koppel will remain with the company as CFO to support the search for a successor and assist with his successor’s transition.
Mike Koppel joined Nordstrom in 1999 and served as CFO since 2001. According to Nordstrom Co-President Blake Nordstrom, Koppel played an integral role in the company’s expansion, growth and transition. Nordstrom added, “[Koppel] has provided our company with tremendous knowledge and strategic financial expertise that has always been grounded with an unwavering focus on taking care of the customer. He will be sorely missed and we wish him the absolute best in his well-deserved retirement."
Prior to joining Nordstrom, Koppel served as CFO of Lids, and worked at May Department Stores, G. Fox & Company, Timex Corporation and Coopers & Lybrand.
Koppel’s retirement announcement comes after a number of leadership changes at Nordstrom. The company hired Ken Worzel as President of Nordstrom.com in an effort to boost e-commerce, and Co-Presidents Erik, Blake and Pete Nordstrom took on new responsibilities.
Erik will be responsible for Nordstrom brands including Nordstrom stores, Nordstrom.com, Trunk, Customer Care, Marketing, and Supply Chain; Blake will oversee Nordstrom Rack brands such as Nordstrom Rack stores, the Nordstrom Rack website, Haute Look, Finance, Technology, Legal and Human Resources; and Pete will continue to support the company’s merchandising functions, store planning, and marketing.
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