Martha Stewart Living CEO Lisa Gersh to Start Reporting to Board on Sept. 15
Executive chairman Charles Koppelman's current employment contract will end that day, but he will remain on the board under a previously outlined management transition.
NEW YORK - Martha Stewart Living Omnimedia said Friday that on Sept. 15, Charles Koppelman's contract as executive chairman will end, and president and COO Lisa Gersh will begin to report directly to the company's board under a previously outlined management transition.
Last month, MSLO had said that the current employment agreement of Koppelman has been changed so that it will expire at the end of this year at the latest or before that when Gersh starts reporting directly to the board.
The lifestyle media company announced the finalized date in a regulatory filing Friday. Gersh has so far been reporting to Koppelman, but the company had said she will end up reporting directly to the board sooner or later.
MSLO also disclosed that general counsel Peter Hurwitz has stepped down, but agreed to provide transition services through at least Oct. 1.
As part of the transition, Gersh "will assume the certification and signatory authority typically held by the principal executive officer for Securities and Exchange Commission purposes," the company also said in its Friday filing.
As previously announced, Koppelman will continue to sit on the MSLO board.