Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) Robin Marino stepping down as the President and CEO of Merchandising. Stock of the company rallied more than 30% based on news. it might not be a good trading opportunity if you consider news flow.
Below is the news release:
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) today announced that Patsy Pollack is head of the Company's Merchandising business. In her new expanded role as Senior Executive Vice President, Patsy will be responsible for all merchandising initiatives and will report directly to Lisa Gersh, MSLO's new President and Chief Operating Officer. Robin Marino is stepping down as the Company's President and CEO of Merchandising to pursue a new opportunity.
"I want to thank Robin for the formative role she has played in the important transformation of our Merchandising business," said Executive Chairman and Principal Executive Officer Charles Koppelman. "MSLO has a dynamic portfolio of retail partnerships and product categories designed and created by an accomplished Merchandising team. I have the utmost confidence that our business will continue to expand and thrive under Patsy's leadership."
An accomplished retail executive with vast experience in the lifestyle designer category, Ms. Pollack joined MSLO in August 2008. She has been responsible for overseeing the Martha Stewart Living line of home-improvement products at The Home Depot and the Martha Stewart Collection exclusively at Macy's. Before joining MSLO, she served as Chief Executive Officer of Donna Karan Home and, prior to that, she was President of Calvin Klein Home for which she directed the launch in 1995.
Ms. Pollack stated, "Over the past several years, our Merchandising portfolio has grown and evolved and today enjoys tremendous potential. Leading this dedicated team is an exciting opportunity, and I'm looking forward to continuing to drive results for MSLO and for our terrific group of merchandising partners."
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