US footwear group Collective Brands has announced that Matthew Rubel has resigned as chairman of the board and chief executive officer of the company.

It said that Michael J Massey has been named the interim chief executive officer and D Scott Olivet as non-executive chairman.

Olivet, a member of the Collective Brands board since 2006, is a 27-year veteran of the apparel, sports and retailing industry, having served as CEO of Oakley and in senior positions at Nike and The Gap Inc

Massey has served in both corporate and operating roles during his 15 years at Collective Brands, and will continue to serve as senior vice president, general counsel and secretary, according to a company statement.

Collective Brands has commenced a search for a permanent replacement for Rubel and Massey has informed the board that he does not wish to be a candidate for the position, the statement added.

The company has also added the presidents and chief executive officers of its three business units - LuAnn Via, Gregg S Ribatt and Bruce T Pettet - to its governing executive committee, effective immediately.

"On behalf of the Board, I want to thank Matt for his efforts over his six years at the helm of Collective Brands, and the strong and positive role he played in building our businesses," said Robert C Wheeler, the company's lead director. "We look forward to building on that foundation and to a new chief executive officer leading the company toward the growth we see in our future."

Rubel will remain available to assist the board, as needed.