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Pegasystems to replace Nordstrom in S&P 400 at open on 5/22
The Nordstrom family and El Puerto de Liverpool S.A.B. de C.V. are acquiring Nordstrom in a deal expected to be completed on May 20.
Nordstrom announces completion of acquisition by Nordstrom family, Liverpool
Nordstrom announced that Erik, Pete, Jamie Nordstrom and other members of the Nordstrom family and El Puerto de Liverpool, S.A.B. de C.V. have completed their all-cash acquisition of Nordstrom for $24.25 per share. Shareholders of the company will also be paid cash dividends of 25c per share and 14.62c per share, reflecting the special cash dividend and a "stub period" quarterly dividend. With the completion of the transaction, Erik and Pete Nordstrom will lead the company as Co-CEOs. Nordstrom common stock will cease trading prior to the opening of the New York Stock Exchange on May 21, 2025 and will be delisted from the NYSE as of May 21, 2025.
Pegasystems to replace Nordstrom in S&P 400 at open on 5/22
The Nordstrom family and El Puerto de Liverpool S.A.B. de C.V. are acquiring Nordstrom in a deal expected to be completed on May 20.
Starbucks names Cathy Smith as CFO, succeeding Rachel Ruggeri
In a regulatory filing, Starbucks (SBUX) disclosed that On March 4, Starbucks announced the appointment of Cathy Smith as executive vice president, CFO and designated Smith as the company's principal financial officer and principal accounting officer, effective, in each case, as of a date to be determined. Smith joins Starbucks from Nordstrom (JWN) where she has served as executive vice president, CFO and treasurer since 2023. From 2020 to 2023, Smith served as chief financial and administrative officer for Bright Health Group. From 2015 to 2020, Smith served as the CFO for Target (TGT. On March 4, the company also announced that Rachel Ruggeri would no longer serve as the company's executive vice president, CFO and principal financial officer and principal accounting officer, effective, in each case, as of a date to be determined. Ruggeri's separation from the company meets the conditions of the "without cause" provisions of the company's Executive Severance and Change in Control Plan for purposes of all plan benefits thereunder.
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