Martha Stewart - Lyne Leaves Martha Stewart
Susan Lyne, who became CEO of Martha Stewart Living Omnimedia shortly after she was
fired as president of ABC Entertainment in 2004 -- and at about the same time that
Stewart herself was heading for prison -- has resigned from MSLO. Lyne, who was ousted
by ABC's owners, the Walt Disney Co. in 2004, just weeks before two shows that she
had championed, Desperate Housewives and Lost, became huge hits, gave
no reason for her decision to step down, saying in a statement only that when she
took the job, her "principal goal was to rebuild the company and return it to profitability.
We have done that." Nevertheless any such remedies have not been reflected in the
company's stock, which reached a high of about $37 in early 2005 but are now worth
about $7.50.
12/06/2008
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posted by wickliffp1996 @ 19:16
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