Tuesday, June 11, 2002
Nordstrom.com CEO, president resign
The Associated Press
SEATTLE The top two executives of Nordstrom.com, the online retailing arm of Seattle-based retailer Nordstrom Inc., have resigned, the company announced Monday.
Chief executive Dan Nordstrom, 39, and a fourth-generation member of the famous Seattle corporate family, will stay on through the end of the month, said Nordstrom spokeswoman Brooke White.
President Mike Smith, formerly president and chief executive of Lands' End catalog company and the founder of online scrapbook company LifeSketch.com, left the company on Friday.
The two are leaving a month after Nordstrom announced it would buy out for $70 million shares in Nordstrom.com held by two venture capital firms, Benchmark Capital Partners and Madrona Investment Group
Both of these gentlemen feel as if they have contributed what they can to the business, said White, who said the two asked her to act as their spokeswoman. They are planning to do something where they can utilize their skills a little better.
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