Martha Stewart Omnimedia Names Co-CEOs

June 10, 2008  by in UnCategorized   

By Home Furnishings Business in on June 2008 Martha Stewart Omnimedia, which manages a home furnishings-focused empire that extends from magazines to furniture, announced Wednesday that Susan Lyne has stepped down from her position as president and CEO. The company now will be run by two Co-CEOs after the promotion of President of Media Wenda Harris Millard and President of Merchandising Robin Marino to fill the position.

The duo reports to Chairman Charles Koppelman.

In a statement, Lyne said her main goal in taking the position four years ago was to rebuild the company and return it to profitability.

“While there is never a perfect time to depart, the company is on sound footing and we expect the transition to be very smooth,” she said, according to the announcement that did not state a reason for her departure.

Company Founder Martha Stewart said, “Our company is strong and vibrant, and Susan’s contribution have been key. Wenda and Robin are passionate, consumer-oriented leaders with equally passionate teams—all committed to provide our customers with fine quality, beautifully designed products and useful, practical, trusted information that enhances and improves their everyday lives.”

Millard oversees media businesses, including online, publishing and broadcasting. Marino oversees merchandising, including licensing partnerships with manufacturers such as Bernhardt and licensing partnerships with retailers such as Macy’s and Kmart.