Nordstrom brothers named co-presidents

Nordstrom's board of directors announced that Blake Nordstrom, Pete Nordstrom and Erik Nordstrom will act as co-presidents of the company. All three will retain their current roles and responsibilities, including their positions on the board.

"Blake, Pete, and Erik have supported the business as a team for many years, leading the executive team and company, and together have been involved in all major decisions," said Enrique Hernandez, Jr., chairman of the board, in a statement.  "This shared leadership structure reinforces their approach to leading Nordstrom. The board has complete confidence in their work as a team. The co-presidents will continue to operate with clearly defined roles to deliver the company's strategy as we focus on serving customers and optimizing shareholder value."

In 2000, Blake Nordstrom was named president, contributing to business operations; Pete Nordstrom was appointed executive VP of Nordstrom and president of merchandising and marketing; and Erik Nordstrom was named executive VP of Nordstrom and president of stores. Erik Nordstrom became executive VP of Nordstrom and president of in 2014. Blake has been a member of the board since 2005, and his brother joined the board the following year. Press release