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President of Martha Stewart Living Omnimedia steps down
June 11, 2008
Susan Lyne has stepped down from her posts as president and CEO of Martha Stewart Living Omnimedia, Inc. The company announced it will promote President of Media Wenda Harris Millard and President of Merchandising Robin Marino to the positions of Co-CEO, reporting to Charles Koppelman, Chairman of the Board. Ms. Lyne will stay on in an advisory role for a period of time to ensure a smooth transition and will remain a director during that period.
In a company press release Lyne said, "Four years ago when the Board asked me to take on this role, our principal goal was to rebuild the company and return it to profitability. We have done that. In the process we've launched some great new businesses, built an impressive management team and re-affirmed the enduring power of the Martha Stewart brand. While there is never a perfect time to depart, the company is on sound footing and we expect the transition to be very smooth. Wenda and Robin share Martha's vision of the company's future, they understand our businesses and have earned the trust of our partners. I couldn't be more pleased that the Board has selected them to succeed me as co-CEOs."
Posted by Susan Dickenson on June 11, 2008 | Comments (0)
