Collective Brands CEO resigns
Topeka, Kan. -- Collective Brands, parent to the Payless ShoeSource and StrideRite brands, announced Wednesday that its chairman and CEO Matthew E. Rubel has resigned, effective immediately.
Rubel said in a release that he is leaving to pursue “a new chapter” in his career, and the company has offered no additional explanation.
Collective Brands said it is searching for a permanent replacement.
Rubel, who hailed from the Cole Haan division of Nike, assumed the CEO position for Collective in 2005. The company has struggled with weak customer traffic in the United States recently, although wholesale operations and international business have been bright spots.
Until it finds a permanent replacement, Collective has named its international head Michael J. Massey as interim chief. Massey is senior VP, general counsel and secretary, and leads international growth and overall business development. Massey has told the search committee he isn't interested in permanently succeeding Rubel.
Collective Brands also named D. Scott Olivet as nonexecutive chairman.