MSLO re-ups Stewart's contract, adds ceo to Gersh's title

HTT Staff -- Home Textiles Today, 7/10/2012 12:16:00 PM

New York -- Martha Stewart Living Omnimedia Inc. namesake Martha Stewart has extended her employment agreement with the company through June 30, 2017, and has been named founder and chief creative officer while maintaining her role as non-executive chairman of the board.

In related news, president and coo Lisa Gersh, who has been a member of the board of directors since last year, has been named ceo. She will continue to report to the board of directors.

"I am excited by the many phenomenal projects we have underway at Martha Stewart Living Omnimedia," said Stewart. "I look forward to continuing my work with Lisa, our executive management and creative teams and our strategic partners to continue growing our strong and far reaching brand both domestically and abroad."

Added Gersh: "I look forward to continuing our drive towards sustainable profitability. We are focused on elevating the iconic Martha Stewart brand to an even higher level and putting our content and products in reach of even more consumers."

MSLO and Stewart agreed to discuss modifications to the terms of her agreement in the coming year, with any changes becoming effective in 2013 and remaining in effect through the remainder of the term of the agreement.