Martha Stewart Living Omnimedia (MSO) co-CEO and president of media Wenda Harris Millard is leaving the company. The company will not replace her as Martha Stewart herself takes on new responsibilities.
Update: Millard’s next stop is MediaLink, a consultancy.
The break-up has to be somewhat amicable, as Wenda lent a statement to the release announcing her departure, saying:
“I am very proud of the contributions I’ve made to MSLO over the past five years, first as a board member and most recently as President of Media and co-CEO. We’ve built an agile team and a strong foundation for future growth.”
Like most media companies Martha Stewart has been hit hard by the current ad-spending freefall. At $3.31, the company’s share price is just 33% of its 52-week high.