Nordstrom chief financial officer to step down

By

Benjamin Fitzgerald

Published
Oct 18, 2022

Nordstrom Inc. announced on Monday the resignation of Anne Bramman from the role of chief financial officer, effective December 2.

The U.S. department store chain said Bramman, who has held the top finance spot since 2017, will stay on with the company through the reporting of Nordstrom's third quarter 2022 financial results to facilitate a smooth transition. ​Bramman's next career opportunity was not disclosed.

Michael Maher, Nordstrom's senior vice president and chief accounting officer, will assume the role of interim CFO upon Bramman's departure. Nordstrom said it has commenced an internal and external search process to identify a permanent CFO to replace Bramman.

"Anne is an outstanding CFO. Since she was named CFO in 2017, Anne's leadership has been vital in helping us in many areas, particularly navigating the numerous challenges of the last few years," said Erik Nordstrom, chief executive officer of Nordstrom, Inc. 

"I'd like to thank Anne for her deep commitment to our customers, our employees, our shareholders and our values. As a result of Anne's guidance through the pandemic, Nordstrom has the financial strength and flexibility to successfully manage through a changing environment. She also sponsored multiple strategic initiatives to improve profitability and develop capabilities to fuel our long-term growth. Anne has elevated the finance organization through her commitment to excellence and talent development. We wish her well as she takes this next step."

Coinciding with the news, Nordstrom said it is reaffirming its fiscal year 2022 financial outlook that was previously provided on August 23, 2022. It still predicts revenue growth of 5 to 7% for the full year, with earnings per share of $2.45 to $2.75 for the twelve-month period.