Nordstrom’s CFO Anne Bramman Is Leaving The Company

Anne Bramman, CFO of Nordstrom is leaving the company on December 2 after the third quarter results are announced. Bramman was CFO since 2017 and a great CFO who brought new ideas to the table. She steps down as the company recovers from customer buying resistance after the pandemic

Eric Nordstrom, CEO gave her a great send-off. He said that: “Anne was an outstanding CFO since she was named CFO in 1917.Ann’s leadership has been vital in helping us in many areas, particularly navigating the numerous challenges of the past few years. I 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 developed capabilities to fuel our long-term growth.”

Anne Bramman responded: “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 feel that this is the right time to transition to the next chapter in my career.”

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 new CFO.

Maher joined Nordstrom in 2009 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. He was appointed to his present position in 2020 and had various senior positions before that.

In the press release Nordstrom states that:” We are fortunate to have deep bench of talented leaders at Nordstrom.” It also stated that the search is internal and external, which mean that Maher will be considered as a successor to Anne Bramman.

POSTSCRIPT: Nordstrom is fortunate to have a strong bench of talented executives. One always hopes that a promotion from within would be a morale builder. Anne Bramman was a well-liked, talented CFO who will be hard to replace.