8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

June 30, 2008

Date of Report (Date of earliest event reported)

COLLECTIVE BRANDS, INC.

(Exact Name of Registrant as Specified in its Charter)

DELAWARE

(State or Other Jurisdiction of Incorporation)

1-14770	43-1813160
(Commission File Number)	(IRS Employer Identification No.)

3231 Southeast Sixth Avenue

Topeka, Kansas 66607-2207

(Address of Principal Executive Office) (Zip Code)

(785) 233-5171

(Registrant's Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

G Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

G Soliciting material pursuant to Rule 14a12 under the Exchange Act (17 CFR 240.14a-12)

G Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

G Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On June 30, 2008, Collective Brands, Inc. (the “Company”), a Delaware corporation, issued a press release announcing Matthew A. Ouimet has been elected to its Board of Directors, effective June 30, 2008, with a term to expire in 2011. Matthew Ouimet has been appointed to the Audit and Finance Committee of the Board. Matthew Ouimet has served as the President, Hotel Group for Starwood Hotels and Resorts Worldwide, Inc. since July, 2006. (“Starwood”) The Company and its associates have historically utilized and expect to continue to periodically utilize properties owned, managed or licensed by Starwood in the ordinary course of business. The Company’s aggregate expenditures with Starwood owned, managed or licensed properties have exceeded $120,000 since the beginning of this fiscal year, however, are less than $1,000,000.

The full text of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

Exhibits:

99.1 Press Release, dated June 30, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	COLLECTIVE BRANDS, INC.
Date: June 30, 2008	By:	/s/ Douglas J. Treff
		Douglas J. Treff Executive Vice President Chief Administrative Officer

EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Press Release, dated June 30, 2008.

EX-99.1

For Immediate Release Contact: James Grant (785) 559-5321 

MATTHEW A. OUIMET ELECTED TO COLLECTIVE BRANDS, INC. BOARD OF DIRECTORS

TOPEKA, Kan., June 30, 2008 - Collective Brands, Inc. (NYSE:PSS) today announced that Matthew A. Ouimet has been elected to its board of directors, with a term to expire in 2011. Ouimet has been appointed to the audit and finance committee of the company’s board of directors.

Ouimet, age 50, is the President, Hotel Group for Starwood Hotels and Resorts Worldwide, Inc. He joined Starwood in August 2006. Prior to joining Starwood, Mr. Ouimet spent 17 years at The Walt Disney Company, where he served most recently as president Disneyland Resort. Ouimet served in a variety of other business development and financial positions, including president of Disney Cruise Line during his employment with Disney. Prior to his work with Disney, Ouimet was controller and senior vice president, finance for Lincoln Property Company from 1983 through 1989 and served as a certified public accountant with Price Waterhouse from 1980 through 1983.

“We are pleased that Matt Ouimet has joined the Collective Brands Board of Directors,” said Matthew E. Rubel, Chairman, Chief Executive Officer and President of Collective Brands, Inc. "Matt has a rare combination of strategic and operating experience domestically and internationally with first class organizations in the areas of service, brand building, and operations.”

With the addition of Mr. Ouimet, the Collective Brands Board of Directors now consists of 10 directors, including nine independent directors.

Collective Brands, Inc. is a leader in bringing compelling lifestyle, fashion and performance brands for footwear and related accessories to consumers worldwide. Collective Brands, Inc. is the holding company of Payless ShoeSource, Stride Rite, and Collective Licensing International. Payless ShoeSource is the largest specialty family footwear retailer in the Western Hemisphere. It isdedicated to democratizing fashion and design in footwear and accessories and inspiring fun, fashion possibilities for the family at a great value. Stride Rite markets the leading brand of high-quality children's shoes in the UnitedStates. Stride Rite also markets products for children and adults under well-known brand names, including Keds, Robeez, Saucony, and Sperry Top-Sider. Collective Licensing International is a leading youth lifestyle marketing and global licensing business. Information about, and links for shopping at, each of Collective Brands’ units can be found at www.collectivebrands.com.

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