Tuesday, March 3, 2020

Nordstrom shares dive on earnings miss, Erik Nordstrom to become sole CEO

Nordstrom announced Tuesday it is changing its leadership structure, appointing Erik Nordstrom as sole CEO and retiring its co-presidency.

It announced the changes as it reported fourth-quarter earnings and sales that missed analysts’ estimates, sending shares tumbling.

Nordstrom also said it will be shrinking its board to 10 directors from 11.. . . more