Arrow-right Camera
The Spokesman-Review Newspaper

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
Partly Cloudy Night 52° Partly Cloudy
News >  Nation/World

Nordstrom Co-Chair To Retire Next Month

Compiled From Wire Services

For the first time in its modern era, Nordstrom will be led by a single chairman. But analysts do not believe the move will dramatically change the way the Seattle retailer, known for management by committee, does business.

Raymond Johnson, 55, one of Nordstrom’s two co-chairmen, announced Thursday that he will retire Sept. 6, a little more than a year after taking office. He will remain on the board.

The move leaves John Whitacre, 43, the sole chairman, overseeing a management team that now includes six co-presidents, all members of the Nordstrom family’s fourth generation.

Whitacre, at Nordstrom’s new store in Denver, which had its grand opening Friday, said the company would not change its strategic plans nor its management structure as a result of the move.

“This is a process that works extremely well,” he said.

Company officials said the board knew that Johnson was thinking of retiring once he turned 55 - the age at which Nordstrom officers are eligible for retirement benefits - when they elevated him and Whitacre to the chairman’s office last June.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Active Person

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.