Bruce Nordstrom, part of the third generation of family leadership that took stewardship of the Nordstrom chain of department stores in the 1960s, died on Saturday, according to local press.

The Seattle Times reported a statement from his sons Pete and Erik Nordstrom saying, “Our dad will be remembered not only for his significant contributions to Nordstrom but also for his unwavering dedication to his family and friends.”

The two serve as president and chief executive officer of the retailer respectively. “His passion, integrity and tireless work ethic served as an inspiration to everyone around him. But perhaps his greatest achievement was being an amazing father, husband and grandfather.”

Nordstrom was instrumental in the company’s expansion and its 1971 initial public offering.His son and former company co-president Blake W. Nordstrom, died in 2019, aged 58.

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Nordstrom shares rose 6 percent on the news, giving the company a market value of about $3.3 billion.