Nordstrom taps former Target exec as CFO

Nordstrom has ended its search for a new finance head.

The department store retailer has appointed Cathy R. Smith as chief financial officer, effective May 29. She succeeds Michael Maher, who has been serving as interim CFO and who has informed the company he will be leaving to pursue other opportunities but will remain through June 16 to help with the transition.

Smith joins Nordstrom from Bright Health Group, where she has served as chief financial and administrative officer since 2020. Prior to that, from 2015 to 2020, Smith was the CFO of Target Corp.

 Before Target, Smith served as CFO for companies that include Express Scripts, Walmart International, GameStop and more.

In her role at Nordstrom, Smith will be responsible for financial planning and analysis, accounting, tax, internal audit, treasury, investor relations and strategic sourcing. 

"Cathy is a proven and well-respected leader with more than 30 years of financial leadership experience," said Erik Nordstrom, CEO of Nordstrom. "With her impressive record delivering business results at blue chip brands and deep expertise navigating a complex retail environment, we're confident she will be an excellent addition to our team and will help us achieve our growth priorities."

Smith currently serves on the boards of directors at PPG Industries and Baxter International. Previously, Smith served as a director for Dick's Sporting Goods.

"Nordstrom is an iconic brand with a relentless focus on customers," said Smith. "Keeping the customer at the center of business decisions is key for long-term success. I look forward to working alongside the talented Nordstrom team to drive growth and profitability and to deliver for our customers." 

Maher joined Nordstrom in 2009 and has been instrumental in guiding the company through periods of transformation, including the company's shift from a store-centric financial model to an omnichannel one, and leading critical finance initiatives throughout and following the pandemic.  

"I'd like to thank Michael for his exceptional leadership in serving as interim CFO during the transition period and for his many contributions to our finance organization and business throughout his tenure,” said Nordstrom. “He has been a trusted partner and we are sad to see him go.”