Jones was most recently chairman, president and CEO of Shopko Stores. He will join the company on October 22.
Previously he was vice president of general merchandising at Sears, and was SVP of Kohl’s Department Stores.
Until Monday, Payless ShoeSource and Collective Licensing International were part of Collective Brands. The $2 billion deal saw a consortium of Golden Gate Captial and Blum Capital take over the group’s Payless ShoeSource and Collective Licensing International operations, while Wolverine Worldwide acquired Collective Brands’ Performance + Lifestyle Group.
“Paul is a proven CEO in the value retailing industry and a seasoned merchant leader with a deep understanding of budget-conscious consumer habits and trends,” said Golden Gate Capital managing director John Olshansky.
“His merchandise savvy, demonstrated track record of increasing profitability and passion for the value retail segment make him the ideal person to lead Payless Holdings and maximize its future potential.”
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