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April 18, 2023 : Former Nike COO Eric Sprunk has joined Nordstrom’s board amid pressure from activist investor Ryan Cohen, who has a major stake in the company. Nordstrom’s shares rose 4% on Monday to $17.00. Sprunk, who was at Nike from 2013 to 2020, will join the board immediately, taking it to 11 directors. Nordstrom board member Brad Tilden welcomed the appointment and praised Sprunk’s ability to drive e-commerce growth and large-scale transformations. Cohen, who founded Chewy and is chairman of GameStop, has called for changes to Nordstrom’s board, including removing former Bed Bath & Beyond CEO Mark Tritton. In a proxy filing, the company revealed a shareholder had withdrawn their nomination of two candidates for election to the board at the annual meeting. Still, it did not confirm if the shareholder was Cohen.
