ST. PETERSBURG — HSN Inc. has increased the size of its board to 10 members to make a spot for Matthew Rubel, a former retail executive with decades of experience in the industry and a senior adviser with TPG Capital, a private investment firm with more than $50 billion in capital under management.
From 2005 to 2011, Rubel worked as the president and CEO of Collective Brands, the holding company for Payless ShoeSource. He also served as chairman of the board of that company. Prior to that, Rubel served as chairman, president and CEO of Cole Haan from 1999 to 2005. He has also had executive positions with the J. Crew Group, the Popular Club Plan and Pepe Jeans.
According to the company's proxy statement, members of its board of directors receive $100,000 worth of deferred stock upon their election to the board, as well as an annual cash retainer of $50,000, payable quarterly. Both occur annually, upon the members' reelection to the board.
"I look forward to working with Matt to assist us in creating a powerful and differentiated customer experience as we redefine the retail landscape," says Mindy Grossman, HSNi CEO, in a company statement announcing the appointment.
Rubel is also a member of the board of directors of Supervalu, a grocery company with 3,400 owned, licensed, franchised and affiliated stores across the U.S.
HSN Inc. (symbol: HSNI; recent price: $54.39), which operates the Home Shopping Network, is a $3.3 billion interactive retailer that sells exclusive products via TV, online, mobile devices, catalogs and brick-and-mortar stores.