Abrupt End for Martha Stewart CEO
Posted at: 12/19/2012 9:32 AM
| Updated at: 12/19/2012 9:34 AM
NEW YORK (AP) - The CEO of Martha Stewart Living Omnimedia is stepping down after less than a year at the job.
Lisa Gersh will resign after an unspecified transition period. The company said Wednesday that it is looking for a replacement.
Gersh was hired in May 2011 as president and COO and replaced Charles Koppelman as CEO in July 2012.
Martha Stewart Living Omnimedia Inc., founded by the lifestyle and home guru, has been seeking to improve the profitability of its publishing and broadcast divisions while growing merchandising revenue. It struck a deal to open Martha Stewart mini-shops in J.C. Penney stores last year, but that has been challenged by Macy's, which also sells the company's products.
The New York company says a leadership change would help expand its merchandising business.
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