Upscale department store retailer Nordstrom Inc has announced that the heads of its online arm have resigned.

In a statement, the company said Nordstrom.com CEO Dan Nordstrom had quit after 27 years at the firm and that Nordstrom.com president Mike Smith had also resigned.

The pair's departure comes just weeks after Nordstrom said it would buy out shares in Nordstrom.com worth around $70 million held by two venture capitalists.

The retailer added that former Nordstrom Inc co-chairman, Ray Johnson, had been appointed interim CEO and president of the division.