Nordstrom Inc. has reshuffled its titles at the top. Today, the board of directors of the Seattle-based department store announced that brothers Blake, Pete and Erik Nordstrom have been named co-presidents of the company.
Eldest brother Blake Nordstrom, 54, had been president of Nordstrom Inc. since 2000. Pete Nordstrom, 52, was EVP of Nordstrom and president of merchandising and marketing, while Erik Nordstrom, 51, was EVP of Nordstrom and president of Nordstrom.com.
According to the company, the three executives will retain their current roles and responsibilities and continue to serve on the board of directors.
Enrique Hernandez Jr., chairman of Nordstrom Inc., said in a statement, “Blake, Pete, and Erik have supported the business as a team for many years, leading the Executive Team and company, and together have been involved in all major decisions. This shared leadership structure reinforces their approach to leading Nordstrom.”
The announcement comes a little more than a week before the company is set to report its first-quarter financial results, on May 14.
Nordstrom has predicted that earnings for the first half of fiscal 2015 will be slightly lower than the full-year outlook due to costs from several growth initiatives, including its expansion into Canada, an additional fulfillment center and last year’s $350 million acquisition of online menswear service Trunk Club.