Connect with us


Nordstrom Brothers’ Pay Falls

Incentive bonuses failed to match 2011 levels



Blake Nordstrom, president of Nordstrom Inc. (Seattle), suffered a 35 percent drop in compensation in 2012, the result of the retailer’s failure to hit certain target levels established by the board of directors.

While Nordstrom’s base salary was increased by about 16 percent, to $709,000, the incentive bonus portion of his compensation was reduced to $892,000. Last year, he received $1.6 million in incentives.

Overall, the executive of his family’s company received $3.9 million in 2012 versus $6 million in 2011.

Brothers Peter and Erik Nordstrom suffered similar reductions. Peter, evp and president of merchandising, saw his total compensation fall 35.8 percent to $3.75 million; and Erik, evp and president of stores, was paid $3.7 million, a 35.2 percent reduction. Each received 85 percent of his target bonus amounts, which equal 150 percent of all three brothers’ base salaries.



Embracing Whole-Brained Thinking in the Design Journey

Strategy needs creative, and creative needs strategy—yep, having both is really the only way of unifying all disciplines with a common vernacular with an eye toward building a strong creative vision that is foundational to the processes. Hear from Bevan Bloemendaal, former VP, Global Environments & Creative Services at Timberland, how to connect the dots between disciplines, claiming and creating a clear differentiation for the brand and ensuring that any asset (experience, product, ad, store, office, home, video, game) is created with intention.

Promoted Headlines

Most Popular