Millard Ascends to Co-CEO at Martha Stewart Empire

Wenda Harris Millard, the former chief of ad sales at Yahoo who left to become president of media at Martha Stewart Living Omnimedia, has been promoted to CEO. She'll share the position with co-CEO Robin Marino, who was bumped up from president of merchandising. Marino joined in 2005 from Kate Spade, where she was president and COO.

The appointments were announced simultaneous to the resignation of President and CEO Susan Lyne, who has led the company for four years.

Millard has been with MSLO for less than a year, and in that time has managed to make headlines on several occasions and has even become something of a champion for the efficacy of display advertising in the era of search. Back in November she inveighed against the movement toward technology-driven targeting with the remark that large brand publishers must "not trade our assets like pork bellies." Additionally, she has periodically criticized Yahoo for breaking with its brand advertising roots to try and compete in the world of search.

Whereas Millard has led the operations and monetization of the company's media businesses, her counterpart Marino has led its retail, wholesale and licensing-based revenue streams.

In a statement, Millard said, "We've built an impressive team and organizational structure that is smart, nimble, and driven to leverage our unique portfolio of magazine, online, television, and radio properties. The foundation is solid and we are now well-positioned to accelerate growth across multiple channels."

Under the new structure, Sheraton Kalouria, president of MSLO's all-important broadcast operations, will report to Millard. Kalouria joined in 2005 and oversees The Martha Stewart Show, along with its radio, public broadcasting, on-demand and cable distribution businesses.