Business Finance » Corporate

Abrupt End for Martha Stewart CEO

Wednesday Dec 19, 2012

The CEO of media company Martha Stewart Living Omnimedia is stepping down after less than a year at the job.

Lisa Gersh will step down 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 Martha Stewart as CEO in July 2012.

Martha Stewart Living Omnimedia Inc., founded by lifestyle and home guru Martha Stewart, 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.

The New York company says a leadership change would help expand its merchandising business.

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