Payless ShoeSource`s CEO to leave
Payless ShoeSource, Inc.’s chairman and CEO Steven J. Douglass has 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 new CEO. 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 10 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.
