Nordstrom brothers named co-presidents

Nordstrom has named Blake Nordstrom, Pete Nordstrom and Erik Nordstrom as co-presidents of the corporation, as the retailer looks to “reinforce” its leadership structure.

"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. This shared leadership structure reinforces their approach to leading Nordstrom," said Enrique Hernandez, Jr. chairman, Nordstrom, Inc.

The three will retain their current roles and responsibilities, Blake current oversees all business operations, Pete is president of merchandising and marketing, and Erik is executive vice president, Nordstrom, Inc. and president of stores. They will all report directly into the board of directors.

Hernandez added: "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."

Founded in 1901 as a shoe store in Seattle where the company is still based, the retailer operates 303 stores in 38 states and Canada.