Susan Lyne is stepping down as president and CEO of Martha Stewart Living (MSO). She’ll be replaced by former Yahoo exec and MSLO president Wenda Harris Millard (SAI 100 #38), and president of merchandising Robin Marino, who were named co-CEOs of the company, reporting to chairman Charles Koppelman.
Lyne’s departure had been anticipated for some time. The former ABC Entertainment exec’s contract expired in December and she had yet to sign another long-term deal. MSLO’s business has been hit by the housing downturn; shares are down nearly 57% over the past year.
Millard oversees MSLO’s media businesses, including online, the various magazines, and TV. Marino oversees merchandising, including the licensing partnerships with Macy’s, Kmart and 1-800-Flowers.
Before joining MSLO in 2007, Millard had been chief sales officer at Yahoo. Marino, who joined MSLO in 2005, had previously been president and COO of Kate Spade, Inc.