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Martha Stewart Living CEO Steps Down
Topics:Publishing | Stock Market | Management | CEOs and CFOs
Sectors:Media
Companies:Martha Stewart Living Omnimedia Inc | Yahoo! Inc
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Media and merchandising company Martha Stewart Living Omnimedia said its chief executive, Susan Lyne, has stepped down after four years in the post.
Martha Stewart Living [MSO
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], the company founded by and named after the lifestyle expert, said it will promote two of its executives to serve as co-CEOs: Wenda Harris Millard, a former Yahoo executive who currently serves as president of media, and Robin Marino, president of merchandising.
In recent quarters, the company has seen improved advertising at its flagship magazine and growth for its websites.
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But investor concerns over its future growth have weighed on the company's shares, which are off nearly 14 percent this year.
Copyright 2008 Reuters. Click for restrictions.
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