NEW YORK, Dec. 16 /PRNewswire-FirstCall/ -- Martha Stewart Living
Omnimedia, Inc. (NYSE: MSO) announced today that James Follo, Chief Financial
and Administrative Officer, plans to resign from those positions in March
2006, after the Company files its 10K report for 2005.
The Company said that Howard Hochhauser, Vice President, Finance and
Investor Relations, will become acting Chief Financial Officer upon the
departure of Mr. Follo.
Susan Lyne, President and Chief Executive Officer, said, "While we are
disappointed that Jim has decided to move on, we appreciate all that he has
done for MSLO in more than seven years with the Company. He skillfully guided
our finances through a particularly challenging period, and did it with
professionalism and dedication. On a personal level, I am grateful to have had
his good counsel in my first year at MSLO. Jim has built an excellent finance
team at the Company, and the appointment of Howard Hochhauser as acting Chief
Financial Officer ensures that we will have a smooth transition when Jim
"My time at MSLO has been stimulating, rewarding and challenging," Mr.
Follo said. "This Company has outstanding assets and a strategy to capitalize
on them. It has dealt with the difficulties of the past few years admirably
and I am confident the Company has the financial management in place to
continue its progress. I believe this is the right time for me to explore the
next stage of my professional career."
Mr. Follo has served as MSLO's Chief Financial Officer since March 2001
and has held his current position since October 2003. He joined the Company
in 1998 as Vice President, Finance and Controller, and has served in a series
of financial management positions with increasing responsibility since that
Martha Stewart Living Omnimedia, Inc. (MSLO) is a leading provider of
original "how-to" information, inspiring and engaging consumers with unique
lifestyle content and high-quality products. MSLO is organized into four
business segments: Publishing, Television, Merchandising, and Internet/Direct
Commerce. Martha Stewart Living Omnimedia, Inc. is listed on the New York
Stock Exchange under the ticker symbol MSO.
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 any of
these terms or other comparable terminology. The Company's actual results may
differ materially from those projected in such statements for many reasons,
including those discussed in the Company's periodic and other filings with the
Securities and Exchange Commission which are available at http://www.sec.gov.
The Company is under no duty to update any forward-looking statement after the
date of this release.
SOURCE Martha Stewart Living Omnimedia, Inc.
CONTACT: Investors, Howard Hochhauser, VP Finance and Investor Relations
of Martha Stewart Living Omnimedia, Inc., +1-212-827-8530, or
Estroff, AVP, Corporate Communications of Martha Stewart Living Omnimedia,