Neiman Marcus Group (NMG) has made a series of strategic changes to its operating model as it continues to advance its Revolutionize Luxury Experiences transformation strategy. The changes include an updated leadership structure that moves additional group-level responsibilities to each of the company’s brand presidents, as well the elimination of a number of positions representing “less than 5%” of its workforce.
With the realignment, NMG hopes to enable faster decision-making across the organization and accelerate high-value luxury customer growth across both the Neiman Marcus and Bergdorf Goodman brands. In tandem with the layoffs, NMG plans to strategically fill open roles that will support the company’s new strategy and operating model.
“It is always our intent to minimize the impact to existing associate jobs, and we take these types of decisions very seriously,” said Geoffroy van Raemdonck, CEO of NMG in a statement. “We will support those associates who will be leaving the company with severance and other benefits.”
Changes to the company’s executive leadership structure include:
- Bob Kupbens, Chief Product and Technology Officer, will transition out of the organization. Core capabilities that Kupbens oversaw, such as products, technology and analytics functions, will transition back into various areas of the business;
- Darcy Penick, President of Bergdorf Goodman will assume group-level leadership of the NMG Product and Technology organization; and
- Ryan Ross, President of Neiman Marcus, will lead Customer Insights for the group.
“Bergdorf Goodman is a key driver for the company’s growth through BG.com,” said van Raemdonck. “Darcy’s strategic leadership of NMG’s product and technology roadmap will ensure the right suite of tools, platforms and resources are aligned to our most important investments in the customer experience and key capabilities across Neiman Marcus and Bergdorf Goodman.
“The Neiman Marcus brand continues to experience outsized growth of high-value customers, and Ryan’s leadership of these key capabilities will continue fueling deeper relationships with top customers,” he added. “His role will accelerate customer-informed decisions across NMG.”
These new leadership shifts follow on the appointment of a Chief Brand Officer and Chief Retail Officer in January 2023.