Nordstrom COO Kenneth Worzel's 2019 pay jumps 25% to $7.5M
Nordstrom reports 2019 executive compensation
By ExecPay News
Published: April 7, 2020
Nordstrom reported fiscal year 2019 executive compensation information on April 7, 2020.
In 2019, five Nordstrom executives received on average a compensation package of $6.1M, a 31% increase compared to previous year.
Kenneth J. Worzel, Chief Operating Officer, received $7.5M in total, which increased by 25% compared to 2018. 32.01% of Worzel's compensation, or $2.4M, was in option awards. Worzel also received $1.6M of change in pension value and nonqualified deferred compensation earnings, $645.4K in non-equity incentive plan, $826.1K in salary, $2M in stock awards, as well as $37.1K in other compensation.
For fiscal year 2019, the median employee pay was $35,668 at Nordstrom. Therefore, the ratio of Kenneth J. Worzel's pay to the median employee pay was 210 to one.
Peter E. Nordstrom, President and Chief Brand Officer, received a compensation package of $7M, which increased by 57% compared to previous year. 39.87% of the compensation package, or $2.8M, was of change in pension value and nonqualified deferred compensation earnings.
Erik B. Nordstrom, Chief Executive Officer, earned $6.9M in 2019, a 54% increase compared to previous year.
Anne L. Bramman, Chief Financial Officer, received $4.8M in 2019, which decreases by 7% compared to 2018.
Edmond Mesrobian, Chief Technology Officer, earned $4.6M in 2019.
Nordstrom's fiscal year ends on January 30.