Few would dispute that Martha Stewart Living Omnimedia could use a little dish up right instantly. But former ABC executive Susan Lyne could fountain some tough challenges as the new president and principal(prenominal) operating officer of the empire that Stewart built MSO announced Lynes appointment and resignation of veritable CEO Sharon Patrick on Nov. 11. The news sparked some positive response from investors in after-hours trading, as they pushed up the stock most 5%, to $19.50, about an hour after the announcement. Indeed, the stock has rallied of late, perpetually since its celebrity namesake began serving lock time. But the euphoria may be short-lived as investors begin to digest what MSO now faces -- and what it has lost with Patricks departure.
THE BIG CHALLENGES. Lyne herself is a respected creative force, having vie a hand in two of ABCs current hit shows -- Lost and Desperate Housewives, neither of which had aired in the lead sagging ratings saw her leave under pressure in April as president of ABC Entertainment. Prior to her TV stint, Lyne worked for theater director Francis Ford Coppolas alternative weekly, City, in San Francisco, was managing editor of New Yorks hamlet Voice, and founded Premiere magazine in 1987. An eloquent and well-liked figure in the glitzy world of Hollywood, she came to the Martha Stewart board in June.
The question is: What Lyne will learn to the mix as head of the beleaguered MSO? Its founder, currently serving cinque months in a West Virginia prison for lying to investigators examine her ImClone stock transactions, will no doubt remain the chief creative force. Not only does Stewart own the bulk of the outfits shares, she has vowed to sum up back stronger next spring, when she will have completed her jail sentence. More important, perhaps, she remains the brands central personality.
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