Payless ShoeSource has announced that Matthew Rubel, who is the chairman and CEO of Nike’s Cole Haan unit since 1999, will become its own CEO in July. Rubel, who has a background managing luxury brands, is widely expected to steer the discount-oriented American chain of 4,600 shoe stores into a more fashionable direction and give it a more fashionable image. His appointment will follow the departure of Steven Douglass, the retailer’s current chairman and CEO, who is leaving the company after 10 years. Most recently, Douglass set about restructuring the company, closing down the Parade chain and various unprofitable Payless outlets.