Nordstrom CFO Anne Bramman to step down by finish of yr

Oct 17 (Reuters) – Nordstrom Inc (JWN.N) Chief Monetary Officer Anne Bramman will step down in December, the U.S. upscale retailer stated on Monday, a month after the corporate adopted a “poison tablet” to forestall traders from amassing 10% or extra of its shares.

Poison tablets make a takeover dearer or tough by permitting current shareholders to purchase shares at a reduction, diluting a suitor’s possession stake.

The corporate has launched the seek for a brand new finance chief, whereas Michael Maher, Nordstrom’s senior vp and chief accounting officer, will assume the function of interim CFO.

The retailer reaffirmed its fiscal yr outlook on Monday after reducing its annual earnings forecast in August, alongside U.S. retailer Macy’s (M.N) and Kohl’s Corp (KSS.N). learn extra

Final month, Nordstrom adopted a “poison tablet” after Mexican peer Liverpool (LIVEPOLC1.MX) disclosed a 9.9% passive stake within the luxurious division retailer chain. learn extra

Reporting by Rittik Biswas and Maria Ponnezhath in Bengaluru; Modifying by Sherry Jacob-Phillips

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