Ullrich E Porzig, the senior vice president and CFO of Collective Brands, has announced his retirement.

The footwear group said it is continuing its search for his successor.

Porzig has served the company for more than 14 years in positions of increasing responsibility in finance functions, Collective Brands said.

"Rick is a highly-respected leader who has made numerous meaningful contributions to our company's success throughout his career," said Matthew E Rubel, chairman, chief executive officer and president.

"I have personally enjoyed working with Rick, and I am extremely grateful for the knowledge, perspective and counsel Rick has brought to the company each and every day."

As part of a planned succession process, Porzig will continue in his current role until September 2008.