MUMBAI: US media company Martha Stewart Living Omnimedia (MSLO) has announced that Charles Koppelman will be the chairman of the board of directors.
Koppelman previously served as vice chairman and consultant to MSLO. He succeeds Thomas C. Siekman, who has been named lead director.
Martha Stewart saidm "As the founder of this company, I have been greatly impressed with Charles' extensive background and expertise in branding, licensing, and corporate positioning. His work these past months with Susan Lyne has given the company a broader, renewed focus on business development and strategic issues.
"This has lifted the morale for all of us who care about MSLO. I am pleased he has been selected to chair our board. Charles will take over a position that has been well managed by Tom. Everyone at MSLO is grateful to both for their service."
Koppelman said, "MSLO is a remarkably vital company with abundant opportunities for the future, and I am honored to serve as chairman. Susan Lyne (MSLO CEO) is an incredibly talented business executive with a clear vision for MSLO. I am eager to continue our productive and collaborative working relationship, and to help Martha Stewart and MSLO's management team grow the business and create long-term shareholder value."
Lyne said, "In his capacity as a consultant to MSLO and Vice Chairman of the board, Charles has developed a keen understanding of the company and its businesses. I am delighted that he has agreed to serve as chairman, and look forward to working with him even more closely. Charles has already made significant contributions to our business development and strategic planning. I know that his experience and good counsel will help drive our momentum going forward."
MSLO recently announced a number of important strategic business transactions and executive management hires. In April, MSLO teamed with Sirius Satellite Radio in an exclusive four-year agreement to create and launch a Martha Stewart-branded satellite radio channel.
The channel, the first of its kind, will provide original programming specifically designed for women listeners and their families everyday. In the same month, MSLO announced an exclusive multi-year agreement with Warner Home
Video to create a new line of home video releases based on MSLO's extensive television programming library. This will launch by the fourth quarter of this year.
