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Nordstrom-Owned HauteLook Announces Leadership Change

Stocks in this article: JWN

SEATTLE, Oct. 3, 2013 /PRNewswire/ --  HauteLook, a leading flash sale retailer owned by Seattle-based Nordstrom, Inc. (NYSE: JWN), announced today Adam Bernhard is stepping out of the CEO role and day-to-day operations of the business, but will remain with HauteLook in an advisory capacity as Founder. Since Nordstrom purchased HauteLook nearly three years ago, Bernhard helped take the business from just over four million members to more than 14 million, while achieving impressive sales growth.

Terry Boyle will continue to lead the business as President of HauteLook, reporting to Jamie Nordstrom, President of Nordstrom Direct. With HauteLook fully operating as a division of Nordstrom, no CEO will be appointed in Bernhard's place. Boyle has been a key contributor to HauteLook's senior leadership since starting with the company as COO/CFO in 2008, and he has been instrumental in leading the business through significant growth.

"Since Adam started this business in 2007, he has worked tirelessly to build a great team and bring a compelling shopping experience to his customers," said Jamie Nordstrom. "Even after selling the business to us, his commitment to scaling the business and bringing it to profitability never wavered. Adam and his team have more than held up their end of the bargain, and we are thrilled to be in a position where he can pass the reins to Terry and focus on some new opportunities for us."

"HauteLook is performing well—the business is growing, it's profitable, and Adam has built a strong team," Nordstrom continued. "While we're sad to see Adam step out of this role, we look forward to continuing to collaborate with him as we move forward and develop additional capabilities to better serve customers."

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