Collective Brands, Inc. (PSS) said that the Board of Directors and Matthew Rubel agreed that Rubel would resign as director, Chairman of the Board and an officer of the company, effective immediately.
Michael Massey has been named the interim Chief Executive Officer and D. Scott Olivet has been named the company's Non-Executive Chairman.
Olivet, a member of the Collective Brands Board of Directors since 2006, is a 27-year veteran of the apparel, sports and retailing industry, having served as CEO of Oakley, Inc. and in senior positions at Nike, Inc. and The Gap Inc.
Massey has served in both corporate and operating roles during his 15 years at Collective Brands, including directing all aspects of the company's successful international expansion and operations. He continues to lead the international growth and overall business development in addition to serving as the company's Senior Vice President, General Counsel and Secretary.
The company said its Compensation, Nominating and Governance Committee, chaired by Mylle Mangum, has begun a search for a permanent replacement for Rubel as Chief Executive Officer. Massey has informed the Board that he does not wish to be a candidate for the position.
Collective Brands also said it has added the Presidents and Chief Executive Officers of its three business units to its governing Executive Committee, effective immediately.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.