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Nordstrom, an American luxury department store chain headquartered in Seattle, Washington, announced it appointed its new chief financial officer. It has named Cathy Smith, a former executive at Target Corp., as the new CFO who will replace Michael Maher, who is set to vacate his office on May 29.
Maher is currently in the role of interim finance chief, and he took over the job from Anne Bramman, who was also an interim. She stepped down in December 2022.
With the appointment of Smith, she will become the first permanent CFO of Nordstrom since Bramman left. Before joining the company, she has been serving as an administrative officer and CFO at Bright Health Group Inc. since 2020. She also previously worked at Target for five years in the same role.
As per WWD, Smith will assume the post of finance chief at Nordstrom on May 23, less than a week before Maher officially exits the company. The outgoing interim CFO decided to leave the department store chain to pursue other opportunities. Then again, he will continue to work in the company until June 16 to ensure a smooth transition.
Once Smith starts to work, she will be responsible for many facets of the finance unit, such as financial planning and analysis, tax, treasury, accounting, investor relations, internal audit, and strategic sourcing.
"Cathy is a proven and well-respected leader with more than 30 years of financial leadership experience," Nordstrom’s chief executive officer, Erik Nordstrom, said in a press release. "With her impressive record delivering business results at blue chip brands and deep expertise navigating a complex retail environment, we are confident she will be an excellent addition to our team and will help us achieve our growth priorities."
Smith also commented, "Nordstrom is an iconic brand with a relentless focus on customers. I look forward to working alongside the talented Nordstrom team to drive growth and profitability and to deliver for our customers."
Photo by: Mauro Arrue/Unsplash
