Nordstrom Inc, a leading American luxury department store chain, announced the appointment of Cathy Smith as its Chief Financial Officer on May 29 2023, as per a filing with the Securities and Exchange Commission.
Smith, a seasoned finance executive, previously served as the chief financial officer at Bright Health Group since 2020. Prior to her role at Bright Health, she held the position of chief financial officer at Target, where she contributed her expertise for five years until 2020. Smith has also held notable CFO positions at Express Scripts, Walmart International, Gamestop, Centex, Kennametal, Textron, and Raytheon, showcasing her extensive experience across various industries. Her appointment comes following the departure of Nordstrom's previous CFO, Anne Bramman, in December. Michael Maher, the Chief Accounting Officer, assumed the role on an interim basis. Maher, who joined Nordstrom in 2009, will be stepping down to pursue other opportunities but will continue to support the transition process until June 16 to ensure a seamless handover, as outlined in a company press release.
Nordstrom, founded in 1901 as a small shoe store in Seattle, has since grown into a renowned luxury retailer with a strong presence across the United States and Canada. Known for its upscale fashion offerings, exceptional customer service, and innovative retail experiences, Nordstrom has established itself as a premier destination for discerning shoppers seeking luxury brands and personalized shopping experiences. With Smith's appointment, Nordstrom aims to leverage her extensive financial expertise and strategic insights to drive continued growth and success in an ever-evolving retail landscape. Smith's track record of financial leadership and her deep understanding of retail operations make her well-suited to steer Nordstrom's financial strategy and support its long-term objectives.
In her role as CFO, Smith has been responsible for overseeing Nordstrom's financial operations, including budgeting, forecasting, financial reporting, and strategic financial planning.
As Nordstrom continues to adapt to changing consumer preferences and market trends, Smith's leadership has been and will continue to be instrumental in guiding the company's financial decisions and positioning it for future success. With her proven track record and extensive experience, Smith is poised to make significant contributions to Nordstrom's continued growth and profitability in the years ahead.