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HomeMarketActivist investor Ryan Cohen takes big stake in Nordstrom, seeks board changes

Activist investor Ryan Cohen takes big stake in Nordstrom, seeks board changes

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Activist investor Ryan Cohen is amassing a sizable stake in Nordstrom Inc.
 and intends to urge the upscale department-store chain to make changes to its board following a steep share-price decline, according to people familiar with the matter.

Cohen, known for helping ignite big rallies in so-called meme stocks including GameStop Corp.
 is one of the top-five nonfamily shareholders of Nordstrom, the people said.

Cohen, who built his fortune on online pet retailer Chewy Inc.
 hopes to engage with Nordstrom’s management about a targeted board refresh that he believes can support cost-cutting efforts as sales decline, the people said. He has expressed admiration for Nordstrom’s attention to customer service, they added.

His goal is to replace at least one director, with a particular focus on former Bed Bath & Beyond Inc.
 Chief Executive Mark Tritton, who chairs the compensation committee and whom Cohen views as conflicted and unqualified, the people said.

An expanded version of this report appears on

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