IS SHAKE-UP AT MARTHA STEWART A GOOD THING?
(Image via Splash)
Things haven’t been going so well at Martha Stewart Living Omnimedia.
With K-Mart suffering, so has Martha Stewart’s company.
David Bank, an analyst at RBC Capital Markets. “…The Kmart problems were not the fault of Martha Stewart Living.” The company’s revenue from Kmart will not be easy to replace, as the soaring cost of food and gasoline force consumers to cut spending elsewhere, reports the NY Times.
The first casualty came voluntarily today as Susan M. Lyne stepped down as chief executive of the company. She gave no reason for her departure, according to the New York Times.
She’s credited with keeping the company above water while Martha served prison time.
Wenda Harris Millard, the company’s president of media, and Robin Marino, president of merchandising, were promoted to co-chief executives, reporting to Charles Koppelman, the chairman.
