MARTHA STEWART - LYNE LEAVES 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