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Dot-Com Disconnect

Nordstrom.com executives exit

Published

22 years ago

June 11, 2002

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The top two executives of Nordstrom.com, the online retailing arm of Nordstrom Inc. (Seattle), have resigned.

Chief executive Dan Nordstrom, 39, and a fourth-generation member of the famous Seattle corporate family, will stay on through the end of the month, said Nordstrom spokeswoman Brooke White.

President Mike Smith, formerly president and chief executive of Lands'End catalog company and the founder of online scrapbook company LifeSketch.com, left the company on Friday.

The two are leaving a month after Nordstrom announced it would buy out — for $70 million — shares in Nordstrom.com held by two venture capital firms, Benchmark Capital Partners and Madrona Investment Group.

“Both of these gentlemen feel as if they have contributed what they can to the business,” said White, who said the two asked her to act as their spokeswoman. They are planning to “do something where they can utilize their skills a little better.”

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