Payless Shareowners Pass Proposals at Company's Annual Meeting
TOPEKA, Kan., May 24, 2002 /PRNewswire-FirstCall via COMTEX/ -- Shareowners of Payless ShoeSource, Inc. (NYSE: PSS) today approved two proposals at the company's annual meeting.
Shareowners re-elected three directors and approved the Payless ShoeSource, Inc. Incentive Compensation Plan.
Steven J. Douglass, Chairman of the Board and Chief Executive Officer of Payless; Howard R. Fricke, Chairman of the Board for The Security Benefit Group of Companies; and Duane L. Cantrell, President of Payless were re- elected to the Payless Board of Directors at the meeting. These board members were each re-elected to a three-year term to expire at the Annual Meeting of Shareowners in 2005.
Other board members whose terms continue are: Mylle B. Mangum, Chief Executive Officer of MMS Incentives, Inc.; Robert L. Stark, Retired Executive Vice President of Hallmark Cards, Inc. and Retired Dean of the Edwards Campus, University of Kansas; Irwin Zazulia, Retired President and Chief Executive Officer of Hecht's, a division of The May Department Stores Company; Daniel Boggan Jr., Senior Vice-President of the National Collegiate Athletic Association (NCAA); Michael E. Murphy, Retired Vice Chairman and Chief Administrative Officer of Sara Lee Corporation; and Robert C. Wheeler, Chairman and Chief Executive Officer of Hill's Pet Nutrition, Inc.
Payless ShoeSource, Inc. is North America's largest family footwear retailer. The company operates a total of 4,985 stores offering quality family footwear and accessories at affordable prices. In addition, customers can buy shoes over the Internet through Payless.com(SM), at www.payless.com .
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CONTACT: Timothy J. Reid of Payless ShoeSource, +1-785-295-6695 URL: http://www.paylessinfo.com