US' Nordstrom announces CFO transition

Michael Maher, Nordstrom's senior vice president and chief accounting officer, will assume the role of interim CFO upon Bramman’s departure. Nordstrom has commenced an internal and external search process to identify a permanent CFO. Maher joined Nordstrom in 2009 as controller and has more than 25 years of finance and accounting experience. As chief accounting officer, he is responsible for accounting, financial planning and analysis, business development, treasury and investor relations. Prior to his appointment as Nordstrom's chief accounting officer in 2020, Maher served as senior vice president, finance from 2017 to 2020. From 2011 to 2017, he held various finance leadership roles for the Nordstrom business, the company said in a press release.

"Bramman is an outstanding CFO. Since she was named CFO in 2017, her leadership has been vital in helping us in many areas, particularly navigating the numerous challenges of the last few years. I’d like to thank Bramman for her deep commitment to our customers, our employees, our shareholders and our values. As a result of Bramman’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. Bramman has elevated the finance organisation through her commitment to excellence and talent development. We wish her well as she takes this next step," said Erik Nordstrom, chief executive officer of Nordstrom, Inc.

"It has been a privilege to work alongside our leadership team and the many talented individuals throughout the company. With Nordstrom well positioned for success, I felt that this is the right time to transition to the next chapter in my career,” Bramman said.

“We are fortunate to have a deep bench of talented leaders at Nordstrom. Maher’s knowledge of the Nordstrom business and more than two decades of related experience will support the continued execution of our financial priorities as we conduct a search for our next CFO,” Nordstrom said.

Fibre2Fashion News Desk (GK)