Rounding off a week of retail boss compensation reveals was department store chain Nordstrom Inc.
Co-presidents Erik, Pete and the late Blake Nordstrom each made around $4.4 million last year, down from $5.6 million in 2017, according to filings with the Securities and Exchange Commission. Some of this was made up of stock options, the full value of which might never be realized due to fluctuations in stock prices and vesting schedules.
The brothers, who are great-grandsons of the company’s founder, John W. Nordstrom, ran the company together as co-presidents from 2015 until Blake’s unexpected death in January following a short battle with lymphoma. Pete and Erik will continue as co-presidents of the business.
Under SEC rules, the company also identified the median pay for all employees, other than Erik, who ranks as principal executive officer. The worker in the middle of the bell curve at Nordstrom was paid $34,454 — putting the top executive’s pay at 129 times the median. This included part-time and seasonal workers.