Nordstrom, Inc. hired Cathy R. Smith as chief financial officer, effective May 29. Smith joins Nordstrom from Bright Health Group where she has worked as chief financial and administrative officer since 2020.
In her role at Nordstrom, Smith will be responsible for financial planning and analysis, accounting, tax, internal audit, treasury, investor relations, and strategic sourcing.
“Cathy is a proven and well-respected leader with more than 30 years of financial leadership experience,” said Erik Nordstrom, chief executive officer of Nordstrom, Inc. “With her impressive record delivering business results at blue chip brands and deep expertise navigating a complex retail environment, we’re confident she will be an excellent addition to our team and will help us achieve our growth priorities.”
“Nordstrom is an iconic brand with a relentless focus on customers,” said Smith. “Keeping the customer at the center of business decisions is key for long-term success. I look forward to working alongside the talented Nordstrom team to drive growth and profitability and to deliver for our customers.”
Before Bright Health, Smith worked as Target Corp.’s CFO for five years. During that time, Target “achieved double-digit revenue and EPS growth.” Before Target, Smith was the CFO for public companies, including Express Scripts, Walmart International, Gamestop, Centex, Kennametal, Textron, and Raytheon.
Smith currently serves on the boards of directors at PPG Industries and Baxter International. Previously, Smith served as a director for Dick’s Sporting Goods.
Nordstrom also announced today that Michael Maher, interim CFO, had informed the company that he is leaving the retailer to pursue other opportunities. He will remain with the company through June 16 to facilitate a smooth transition.
Maher joined Nordstrom in 2009 and has been “instrumental in guiding the company through periods of transformation, including the company’s shift from a store-centric financial model to an omnichannel one, and leading critical finance initiatives throughout and following the pandemic.”
Nordstrom added, “I’d like to thank Michael for his exceptional leadership in serving as interim CFO during the transition period and for his many contributions to our finance organization and business throughout his tenure. He has been a trusted partner and we are sad to see him go.”
Maher, formerly senior vice president and chief accounting officer, assumed the role of interim CFO following the departure of Anne Bramman in December 2022. Bramman joined Boston Consulting Group (BCG) as a senior advisor.
Photos courtesy Cathy R. Smith/Nordstrom
