Payless ShoeSource announced today that it has hired Paul Fenaroli to serve as division senior vice president of corporate strategy. He was most recently head of new store development at Sears. John Smith, who previously served as vice president, corporate strategy has been promoted to division senior vice president in charge of store development.

As division senior vice president of corporate strategy, Fenaroli serves as an advisor to Rubel and as a key member of the Payless leadership team responsible for planning, developing and managing the long-term strategic planning for the company.

“We are thrilled to have such a talented business strategist like Paul join our Payless team,” said Matt Rubel, chief executive officer and president. “He has strong experience in retail, having served most recently as head of new store development at Sears, as well as a rich consulting background with nearly a decade of experience at The Boston Consulting Group, where he focused on driving topline growth and managing organizational change among the firm's client base. We look forward to Paul joining our leadership team in this important role and to his contributions to our new business strategy.”

From 2004 to present, Fenaroli served as vice president, strategy and new store development for Sears, Roebuck and Co. and from 1993 to 2002, he served as vice president with The Boston Consulting Group. Fenaroli started his career in 1978 at Ernst & Young where he worked for 13 years, first as a staff auditor, and in 1982 moving to the E&Y Consulting Division of the Strategic Services Group where he was promoted several times to roles of increasing responsibility and finally served as a senior manager. He holds a Bachelor of Science, Business and Economics degree from Lehigh University and a Master of Business Administration with Distinction, in Strategic Management and Finance from the Wharton School of the University of Pennsylvania, where he was a Russell Palmer Scholar.