Neiman Marcus in management reorg, layoffs
The Neiman Marcus Group is realigning part of its leadership structure and laying off employees.
The luxury department store company, which also owns Bergdorf Goodman, said that as part of a “strategic realignment” to accelerate customer growth it is eliminating certain positions across the organization. The layoffs represent less than 5% of the company’s workforce, or about 500 employees.
"It is always our intent to minimize the impact to existing associate jobs, and we take these types of decisions very seriously,” said Geoffroy van Raemdonck, CEO of NMG. “We will support those associates who will be leaving the company with severance and other benefits.”
Amid the layoffs, the company said it has also identified open roles “to best support our operating model going forward” which will be filled based on strategic business needs.
The layoffs come about two months after Neiman Marcus Group added two new executives to its C-suite.
Neiman Marcus Group said its new operating model will drive “fast decision-making and agility to accelerate the company's competitive advantage through its differentiated business model.”
As part of the new model, the retailer is giving additional group-level responsibilities for strategic capabilities to each of its brand presidents.
The updates include the following:
Darcy Penick, president of Bergdorf Goodman, will assume group-level leadership of the Neiman Marcus Group product and technology organization. Penick brings deep leadership experience throughout her career in digital-led customer strategy and a proven history of execution excellence to lead group-level product and technology teams, the company said.
"Darcy's strategic leadership of NMG's product and technology roadmap will ensure the right suite of tools, platforms and resources are aligned to our most important investments in the customer experience and key capabilities across Neiman Marcus and Bergdorf Goodman,” said van Raemdonck.
Ryan Ross, president of Neiman Marcus, will lead customer insights for the group. Ross has deep experience in these areas with previous leadership roles focused on integrated channel strategies and customer migration.
"The Neiman Marcus brand continues to experience outsized growth of high-value customers, and Ryan's leadership of these key capabilities will continue fueling deeper relationships with top customers," continued van Raemdonck. "His role will accelerate customer-informed decisions across NMG."
As Penick and Ross take on added responsibilities, Bob Kupbens, chief product and technology officer, will leave the company. Kupbens was credited for successfully building momentum across the product, technology and analytics organization.
“His extensive experience in product and technology helped the organization build differentiated strategic capabilities, including the Neiman Marcus app, enabling selling associates to engage with customers in new ways using Connect, as well as the acquisition and implementation of Stylyze,” the company stated.
The Neiman Marcus Group is privately held by Davidson Kempner Capital Management, Sixth Street Partners and Pacific Investment Management Co.