Shoe’s on the Other Foot

Payless ShoeSource Inc. (Topeka, Kan.) has announced the intention of chairman and ceo Steven Douglass to leave the company in July of this year, following a transition of leadership to Matthew Rubel, who will become ceo of the 4600-unit footwear retailer.

Rubel has been chairman and ceo of Cole Haan (New York), a wholly-owned subsidiary of Nike Inc. (Beaverton, Ore.), since February 1999.

The company also announced that it would name a non-executive chairman at a later date.

“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 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.”

Rubel said, “I am extraordinarily excited to have the opportunity to continue to build on the strong foundation established by Steven and his team. As the largest specialty family footwear retailer in the Western Hemisphere, Payless ShoeSource is a unique and powerful platform. We will focus on building even stronger connections with the consumer by creating emotionally enticing product, brand communications and point of sale.”

Prior to joining Cole Haan, Rubel was executive vp of The J. Crew Group (New York). As ceo of Popular Club Plan Inc. (Garfield, N.J.) from 1994 to 1999, he led the sale of Popular from J. Crew to Fingerhut in 1998. He also served as president and ceo of Pepe Jeans USA Inc. (Commerce, Calif.) and president of the specialty division of Revlon Inc. (New York).