Martha Stewart CEO Lyne Steps Down

June 11, 2008 8:18:08 AM PDT
There's no word why, but Susan Lyne has stepped down after four years as CEO of Martha Stewart Living Omnimedia. The media company says the job will be split between two company executives. Wenda Harris Millard, who is currently president of media at Martha Stewart, and Robin Marino, president of merchandising, have been named co-CEOs.

The company also announced in a regulatory filing that it will form an advisory committee, called the office of the chairman, to focus on the strategic direction of the company.

Lynne became CEO in late 2004. She led the recovery and expansion of the media company, which was hurt by its founder's personal legal problems. Stewart has been back in the limelight with her own TV show and other projects since March 2005, when she completed her prison sentence for lying about a stock sale.