TOPEKA, Kan., Sept. 25 /PRNewswire-FirstCall/ -- Payless ShoeSource,
Inc. (NYSE: PSS) today announced that D. Scott Olivet has been elected to
its Board of Directors, with a term to expire in 2009.
Mr. Olivet, age 44, is the Chief Executive Officer and Director of
Oakley, Inc. He has served in such capacity since October 2005.
From August 2001 to September 2005, he served as Nike Inc.'s Vice
President, Nike Subsidiaries and New Business Development where he led,
developed and executed the company's multi-branding strategy including the
Cole Haan, Converse, Hurley, Starter and Bauer-Nike Hockey brands. Prior to
Nike, Mr. Olivet served as Gap. Inc.'s Senior Vice President of Real
Estate, Store Design and Construction, responsible for the Gap, Banana
Republic and Old Navy brands from 1998 to 2001. He worked with Bain &
Company from 1984 to 1998, serving as a partner and head of the firm's
worldwide practice in organizational effectiveness and change management
from 1993 to 1998.
"We are pleased that Scott Olivet has joined the Payless ShoeSource
Board of Directors," said Matthew E. Rubel, Chief Executive Officer and
President of Payless ShoeSource, Inc. " He is widely respected for his long
career of successful retail and brand leadership. He applies a high degree
of rigor and analysis to his strategic thinking, which extend across
multiple retailing disciplines."
With the addition of Mr. Olivet, the Payless ShoeSource Board of
Directors now consists of ten Directors, including nine independent
Directors.
Payless ShoeSource, Inc. is the largest specialty family footwear
retailer in the Western Hemisphere, dedicated to democratizing fashion and
design in footwear and accessories and inspiring fun, fashion possibilities
for the family at a great value. As of the end of the second quarter 2006
(period ending July 29, 2006), the Company operated a total of 4,584
stores. In addition, customers can buy shoes over the Internet through
Payless.com(R), at http://www.payless.com .
SOURCE Payless ShoeSource, Inc.
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Related links:
http://www.paylessinfo.com
http://www.prnewswire.com/comp/136152.html/
CONTACT:
Ronald A. Cooperman of Payless ShoeSource,
Inc., +1-785-295-6695
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