Bruce Nordstrom Seattle, WA Death: American Businessman has died at 90
Bruce A. Nordstrom, American billionaire businessman and the former chairman of Nordstrom has passed away. He was 90 years old. He oversaw the business from 1968 to 1995, then returned in 2000 to serve as chairman until 2006. He is a wealthy Seattleite, Washington, who was listed on Forbes’ 2012 list of the world’s wealthiest individuals.
Bruce A. Nordstrom Early Life and Family
John W. Nordstrom, the man behind Nordstrom, Inc.—a company that started out as a shoe store in 1901—is his grandson. Bruce Nordstrom started working for the shop at the age of nine, earning 25 cents per hour in the downtown Seattle store’s stockroom and sales floor.[3] Up until he decided to attend college, Bruce continued to work for his father, Everett Nordstrom, and uncles, Elmer and Lloyd Nordstrom.
His economics bachelor’s degree from the University of Washington was awarded to him in 1955. Nordstrom joined the fraternity Beta Theta Pi while he was a student at Washington.
Bruce A. Nordstrom Career
Nordstrom oversaw the growth of Nordstrom, Inc. for more than 40 years, taking it from seven shoe stores to over 156 locations in 27 states and a network of boutiques throughout Europe. He contributed to the company’s growth from under $40 million to $8.6 billion throughout his tenure.
Nordstrom was appointed president of Nordstrom, Inc. in 1963.[4] Along with his cousins John and James, his cousin-in-law Jack McMillan, and family friend Bob Bender, he was elected co-chair of the board in 1968. They comprised the third generation of Nordstroms, who drove the growth and success of the business until starting to retire in the 1990s.
Nordstrom left his position as co-chairman in 1995. John Whitacre, the new CEO, and the Nordstrom brothers, Blake, Pete, and Erik, assumed key positions in the reorganized corporation.Sales at Nordstrom declined between 1995 and 2000, and the business launched an unpopular marketing push to update the brand during that time. Whitacre quit the company in 2000 as a result. With the addition of his three sons, Nordstrom became chairman once more, forming a new generation of executives. As the Nordstroms returned the spotlight to their employees, the stores gradually started to come around. Following profitability, the business achieved record revenues of $6.5 billion in 2003.
Conclusion
Nordstrom’s funeral arrangement and Obituary announcement will be made available by his family. His cause of death was not made known as at the time of this publication.
