|
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.
|
