NEW YORK, Dec. 3 /PRNewswire-FirstCall/ -- Martha Stewart Living
Omnimedia, Inc. (NYSE: MSO) announced today that Howard Hochhauser has
tendered his resignation as the Company's Chief Financial Officer, effective
December 31, 2008, to pursue a new career opportunity in Utah. In the interim,
MSLO's Controller, Allison Jacques, will serve as the Company's principal
financial officer. The Company will start a search for a new CFO.
"Howard has been a valued and steady influence during his eight years at
MSLO, and his presence will be missed," said Executive Chairman Charles
Koppelman. "As CFO, Howard played a key role in guiding our steadily
improving financial position as the Company returned to profitability and
growth under a more diversified media and merchandising business model. We
wish him and his family the best as he relocates to pursue his next career
ambition. This transition comes at a time when MSLO has many exciting growth
opportunities ahead. We have great confidence in Allison, who has the
experience and skills to serve as our interim principal financial officer."
Mr. Hochhauser joined MSLO in May 2000 after a career as an equity
research analyst and an accountant. Prior to serving as MSLO's CFO, Mr.
Hochhauser was Vice President, Finance and Investor Relations.
Ms. Jacques has served as MSLO's controller since 2002.
"My time at MSLO has been a defining period in my finance career, and I'm
grateful to Martha, Charles, Robin, Wenda and everyone I've worked with at the
Company for their support and friendship over the years," said Mr. Hochhauser.
"MSLO is a terrific company with valuable assets and brands, and I look
forward to cheering its many successes in the years ahead."
About Martha Stewart Living Omnimedia, Inc.
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) is a diversified media
and merchandising company, inspiring and engaging consumers with unique
lifestyle content and distinctive products. The Publishing segment encompasses
four magazines, including the company's flagship publication, Martha Stewart
Living, periodic special issues and books. The marthastewart.com website
provides consumers with instant access to MSLO's multimedia library, search
and find capabilities, recipes, online workshops, community and
personalization, as well as wedding-planning tools powered by WeddingWire. The
Broadcasting segment produces such programming as the Emmy-winning daily,
nationally syndicated television series, "The Martha Stewart Show," and Martha
Stewart Living Radio on SIRIUS channel 112 and XM Radio 157. In addition to
its media properties, MSLO offers high-quality Martha Stewart products through
licensing agreements with carefully selected companies, including the Martha
Stewart Collection exclusively at Macy's, Martha Stewart Everyday at Kmart,
Martha Stewart Crafts with EK Success at Wal-Mart, Michaels and independent
retailers, Martha Stewart for 1-800-Flowers.com and a co-branded food line
with Costco. In April 2008, Emeril Lagasse joined the Martha Stewart family of
brands; MSLO acquired the assets related to Lagasse's media and merchandising
business, including television programming, cookbooks, and emerils.com website
and his licensed kitchen and food products. For additional information about
MSLO, visit www.marthastewart.com.
Forward-Looking Statements
We have included in this press release certain "forward-looking
statements," as that term is defined in the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are not historical facts
but instead represent only our current beliefs regarding future events, many
of which, by their nature, are inherently uncertain and outside of our
control. These statements can be identified by terminology such as "may,"
"will," "should," "could," "expects," "intends," "plans," "anticipates,"
"believes," "estimates," "potential" or "continue" or the negative of these
terms or other comparable terminology. The Company's actual results may differ
materially from those projected in these statements, and factors that could
cause such differences include: adverse reactions to publicity relating to
Martha Stewart by consumers, advertisers and business partners; downturns in
national and/or local economies; shifts in our business strategies; a loss of
the services of Ms. Stewart; a loss of the services of other key personnel; a
softening of the domestic advertising market; changes in consumer reading,
purchasing and/or television viewing patterns; unanticipated increases in
paper, postage or printing costs; operational or financial problems at any of
our contractual business partners; the receptivity of consumers to our new
product introductions; and changes in government regulations affecting the
Company's industries.
Certain of these and other factors are discussed in more detail in the
Company's most recent Quarterly Report on Form 10-Q filed with the Securities
and Exchange Commission, especially under the heading "Risk Factors," which
may be accessed through the SEC's World Wide Web site at http://www.sec.gov.
The Company is under no obligation to update any forward-looking statements
after the date of this release.
SOURCE Martha Stewart Living Omnimedia, Inc.
CONTACT: Elizabeth Estroff, +1-212-827-8281, eestroff@marthastewart.com/
Web Site: http://www.marthastewart.com /
(MSO)
