Susan Lyne: new CEO of Martha Stewart’s media company. Contributed photo The media company founded by Westport’s Martha Stewart got a new chief executive today.
Susan Lyne, a veteran television and publishing executive. hopes to jump-start Martha Stewart Living Omnimedia while its namesake former chairman and CEO finishes serving her five-month prison sentence.
She replaces Sharon Patrick who resigned.
Lyne, who has served as a director of Martha Stewart Living since June 2004, has had a 25-year career in creative and business positions in the television, publishing and film industries.
“For personal and professional reasons I have decided to leave MSO and pursue other dreams, turning over the leadership of the company to others,” Patrick said in a statement. She had been with the company for 10 years.
The management shake-up comes at a time when the New York-based multimedia company is still reeling from the conviction of Stewart of lying to investigators about her sale of ImClone Systems.
The New York Times reported in its Friday editions that Lyne said in a telephone interview that Stewart was informed of the change by a board member.
The search for a new chief executive began, she added, after Stewart reported to the federal prison in Alderson, W.Va. Oct. 8.
Asked whether she had joined the board with the intention of replacing Patrick, Lyne said: “I came on the board to be on the board,” the Times said.
She added: “I’ve gotten to know this company up close. And that was enormously beneficial to me when, very recently, the board asked me whether I would be willing to consider the C.E.O. job.”
Last month, Martha Stewart Living reported that its third-quarter losses widened from a year ago, and forecast a wider-than-expected loss in the fourth quarter as advertising revenues decline.
Still the company said it is increasingly optimistic about the company’s prospects for an advertising recovery in 2005.
Lyne most recently was president of ABC Entertainment from January 2002 to May 2004 and had held various executive positions at the network since 1998.
While with ABC, she helped develop the hit series “Desperate Housewives,” among other shows.
She was the head of prime-time entertainment programming when she was fired in April as part of a management shake-up in response to poor ratings.
“I am proud to lead MSO during this next phase of the company’s growth,” she said.
The Times said she praised Patrick’s work, adding that as chief executive she wanted to “jump-start” the company’s creative work. “We’re at a point where we can start a new phase of creative output,” she said.
Put Martha’s name back on KID’s. My 4 year old noticed that it was missing and was very upset.
I don�t see Martha sitting by some faux fire, strumming some stupid hippy guitar, while singing �Come With Me My Lord�. Come with Me� or �Michael Row Your Boat a Shore!� I think she is more apt to shove that guitar pick, in place where it will get the least sun! Imagine the possibilities!
This constant reference to the �Mr. Ed and Martha Sing-Along Side-Show� is getting old, and annoying. In addition, I resent the fact that whoever this person is has the gall to use �P. Newman� as a posting name. The real Paul Newman would not make all these references to Martha�s personal life. If you want to sell your crap CD�s use just your name, and stop exploiting Martha.
Ahhhhh…………..Ms O’Oneil must be referring to THE “MR EDD”……….The infamous Martha stalker and “banjo” player…………
Yes,unfortunately, he uses many synonyms to get his most nauseating and pathetic schemes noticed on websites throughout the country. As of late, he must be forgetting to take his medicine as he`s on an unusually active rampage on several websites. But, those of us who know better are aware of his antics. I DO feel sorry for the Kostyra family having to put up with one lunatic that`s able to create such havoc when they already have enough grief on their hands.
It would be very bad if the company changes name. Martha has invested alot of time, energy and passion building this. It is not her fault that she was pressured by bad american laws.
Ivan
It would be very bad if the company changes name. Martha has invested alot of time, energy and passion building this. It is not her fault that she was pressured by bad american laws.
Ivan