Payless ShoeSource to appoint Matthew E. Rubel as CEO

27 May '05

5 min read

special family footwear retailer payless shoesource inc chairman and chief executive officer steven j. douglass announced his intention to leave the company in july of this year, following a transition of leadership to matthew e. rubel, who will become the company's chief executive officer.

mr. rubel, 47, has been the chairman and ceo of cole haan, a wholly-owned subsidiary of nike, inc. since february 1999. the company also announced that it would name a non-executive chairman of the board, at a later date, effective with the departure of mr. douglass and appointment of mr. rubel.

"after more than ten years leading the company, the board of directors and i have mutually agreed that the time is right for me to leave the company and pursue new personal and business interests and opportunities," said steven douglass. "the board worked diligently to make this possible by conducting a comprehensive search for the next ceo, selecting matt rubel to lead payless shoesource forward. i look forward to a seamless transition of leadership and continued business momentum -- and look proudly back on the substantial progress toward achieving our strategic objective of merchandise authority in the value-priced segment of our industry. i am grateful for the many contributions of our talented senior leadership team and our more than 27,000 payless shoesource associates in the u.s. and abroad. matt will lead this team to even higher levels in capitalizing on the company's great brand and competitive strengths in the future."

More Textiles News - United States Of America...