Nordstrom beefs up board with Intuit CEO

SEATTLE — Nordstrom has appointed Intuit president and CEO Brad Smith to the company’s board of directors.

His addition brings the total number of directors to 12, 9 of whom serve as independent directors. Nordstrom directors serve one-year terms and the company requires annual elections of all board members.

Smith was named president and CEO of Intuit in January 2008, culminating a five-year rise through the company where he led several of its major businesses.

Intuit credits Smith with breathing new life into the 30-year-old Silicon Valley company by fomenting within its corporate culture a startup mentality. His efforts have made it possible, according to the company, for Intuit to reinvent and transform itself and generate more than $4 billion in annual revenue.

Before joining Intuit, Smith served in a variety of sales, marketing and management roles with ADP, PepsiCo, Seven-Up and Advo. He is also a former director of Yahoo.

“Brad adds to the already strong talent and diverse expertise represented on our Board,” said Enrique Hernandez Jr., chairman of the board. “In addition to his corporate governance experience as a public company director, he brings an impressive track record of leading a successful customer-driven business with a reputation for developing innovative products and solutions. We’re delighted to have him on our team and look forward to his contribution as we work to improve the service experience and extend our reputation with customers and shareholders alike.”

Nordstrom is one of the leading fashion specialty retailers based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 248 stores in 33 states, including 117 full-line stores, 127 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through its e-commerce site and its catalogs. Additionally, the company operates in the online private sale marketplace through its subsidiary HauteLook.