Nordstrom appoints two new members to Board of Directors
Seattle-based Nordstrom, Inc. announced on February 27, 2019, the appointment of two new members to its board of directors: Kirsten Green, Forerunner Ventures founder and managing director and Glenda McNeal, American Express Company Enterprise Strategic Partnerships president.
Green launched San Francisco-based Forerunner Ventures in 2010 which is one of the most successful women-founded venture capital firms in Silicon Valley. The firm specializes in understanding today’s consumer and is dedicated to investing in ambitious entrepreneurs who define and dominate a new generation of commerce. From B2C to B2B companies, their portfolio includes retailers like Bonobos, Dollar Shave Club, Jet and Warby Parker. Green has led efforts to raise more than $650M investing in more than 80 companies. She currently serves as a member of the board of directors at Glossier, Outdoor Voices, Ritual, Inturn and Indigo Fair, among other Forerunner portfolio companies. Prior to Forerunner she was an equity research analyst and investor at Banc of America Securities (formerly Montgomery Securities) covering publicly-traded retail and consumer stocks.
McNeal currently leads American Express’ strategy, negotiations and key initiatives for the company’s strategic relationships, including the largest travel, e-commerce, technology and retail partners. In prior roles, McNeal has led the company through pivotal transformation and growth, including expansions into new industries that do not typically accept credit cards. She has held a variety of roles of increasing responsibility since first joining American Express in 1989. McNeal currently serves on the boards of RLJ Lodging Trust and the World Travel & Tourism Council.
“As Nordstrom focuses on its ambition to be the best fashion retailer in a digital world and achieving its long-term financial commitments, we’re pleased to welcome both Kirsten and Glenda to our board of directors,” said Brad Smith, Chairman of the Nordstrom board. “The unique perspectives and experiences they bring to Nordstrom will continue to support our efforts to meet the ever-changing needs of our customers, enabling them to shop where, how and when they choose.”
The company also shared that Phil Satre, current independent director, announced he will not seek re-election and his term will end in May. Satre was appointed to the board in 2006.
“We want to thank Phil for his many years of service to the company,” said Smith. “His leadership has been invaluable, and we are grateful for his many contributions.”
The two appointments and Satre’s retirement from the board in May will bring the total number of directors to 11, nine of whom serve as independent directors. Nordstrom is committed to diverse workforce representation across all business areas, and at every level of leadership. Nordstrom believes having a diverse workforce and a culture of inclusion fosters innovation, enables it to better serve customers and strengthens its ability to attract and retain top talent. Five of the company’s board of directors are female and three are people of color. Nordstrom directors serve one-year terms and the company requires annual elections of all Board members, which will take place at the annual shareholders’ meeting on May 23, 2019.
Nordstrom, Inc. is a leading fashion retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 379 stores in 40 states, including 121 full-line stores in the United States, Canada and Puerto Rico; 244 Nordstrom Rack stores; three Jeffrey boutiques; two clearance stores; six Trunk Club clubhouses; and three Nordstrom Local service concepts. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com, HauteLook and TrunkClub.com. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.
New managing director for Monforts
Stefan Flöth has been assigned as a further Managing Director of A. Monforts Textilmaschinen GmbH & Co. KG in Mönchengladbach, Germany, as of January 1st 2019.
He has re-joined Monforts in his new role from the Trützschler Group, also headquartered in Mönchengladbach, where he was the MD of Trützschler Nonwovens from 2009 onwards.
Stefan Flöth
Having spent his working life in the textile machinery industry, Mr Flöth started his career with Schlafhorst.
Between 1996 and 2009 Stefan Flöth was already a key part of the Monforts team in various roles related to R&D, mechanical design and management of the company’s joint ventures.
He is now looking forward to acquainting himself with the current wider Monforts network of customers and suppliers at the forthcoming Techtextil and ITMA 2019 exhibitions in Frankfurt and Barcelona respectively.
“Both exhibitions serve as excellent platforms for networking and meetings with key players,” he says. “What I find is, is that keeping good relationships with customers is essential, because what they buy from us is an investment in their future and they need to trust in our continued support. The upcoming shows will provide a great opportunity to meet many customers quickly.”
“Over the past ten years working in the nonwovens industry, I have gained a lot of experience in the management of complex technical textile projects which I intend to draw on,” he adds. “And my focus will certainly be on the opportunities presented by Industry 4.0 and the potential of the technical textiles market.”
A. Monforts Textilmaschinen was founded in 1884 and today is a leading supplier of textile finishing machines. The company is a market leader for stenters, continuous dyeing ranges, sanforising ranges and special executions for denim and for the coating of technical textiles. The company`s headquarter is located in Mönchengladbach, Germany. At its Advanced Technology Center (ATC) customers can undertake fabric trials on the latest Monforts equipment under real production conditions. For nearly 40 years, the company`s production site has been in St. Stefan, Austria. Monforts is a member of CHTC Fong`s Industries Group.
Semperit -Extension of Management Board mandate of CFO Frank Gumbinger
The Supervisory Board of the publicly listed Semperit AG Holding decided to extend the Management Board mandate of Chief Financial Officer (CFO) Frank Gumbinger (50) until 30 June 2022. “In the midst of the ongoing restructuring and transformation process, this step ensures a consistent continuation of fundamental projects for the modernisation and optimisation of his responsibilities as a member of the Management Board,” says Christoph Kollatz, Chairman of the Supervisory Board.