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Poison pills make a takeover more expensive or difficult by allowing existing shareholders to buy shares at a discount, diluting a suitor’s ownership stake.
The company has launched the search for a new finance chief, while Michael Maher, Nordstrom’s senior vice president and chief accounting officer, will assume the role of interim CFO.
The retailer reaffirmed its fiscal year outlook on Monday after cutting its annual earnings forecast in August, alongside U.S. retailer Macy’s (NYSE:M) and Kohl’s Corp (NYSE:KSS).
Last month, Nordstrom adopted a “poison pill” after Mexican peer Liverpool disclosed a 9.9% passive stake in the luxury department store chain.
