Susan Lyne Steps Down at MSLO

NEW YORK, June 11: Wenda
Harris Millard and Robin Marino have been appointed co-CEOs of Martha Stewart
Living Omnimedia (MSLO), succeeding Susan Lyne, who today announced her
resignation as president and CEO.

Millard, currently
president of media, and Marino, president of merchandising, will report to
Charles Koppelman, the company’s chairman, in their new role as co-CEOs. Lyne
will remain in an advisory role for a period of time to ensure a smooth
transition. She joined MSLO in 2004 after being ousted as the president of
entertainment at ABC.

"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,” Lyne said in a statement. “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.”

—By Mansha Daswani