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Payless ShoeSource elects Matthew Rubel as CEO & President

19
Jul '05
America's largest family footwear retailer Payless ShoeSource Inc has completed its previously announced senior management succession. Matthew E. Rubel has been chosen Chief Executive Officer and President of the company, effective today.

Mr. Rubel was also elected to the company's Board of Directors. Howard R. Fricke has been elected Chairman of the Board. This is consistent with the company's previously announced decision to name a Non-Executive Chairman of the Board. Steven J. Douglass has resigned from the Board of Directors and from his positions as Chairman and Chief Executive Officer of the company.

Mr. Rubel, 47, was Chairman and CEO of Cole Haan, a wholly-owned subsidiary of Nike, Inc. from February 1999 to July 2005. Prior to joining Cole Haan, Mr. Rubel was Executive Vice President, J. Crew Group and CEO of Popular Club Plan from 1994 to 1999, and in November 1998, led the sale of Popular from J. Crew to Fingerhut.

While at J. Crew Group, Mr. Rubel was responsible for all licensing and international activities, as well as brand marketing and served on its Group Executive Committee. Mr. Rubel has also served as President and CEO of Pepe Jeans USA. and President of the Specialty Division of Revlon. Mr. Rubel has a Bachelor of Science degree from Ohio University and an MBA from the University of Miami (Florida).

Mr. Fricke, 69, has been Chairman of the Board of the Security Benefit Group of Companies since 1988, and has been Secretary of Commerce for the State of Kansas since September 2004. Mr. Fricke was Secretary of Administration for the State of Kansas from December 2002 until September 2004.


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