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Posts Tagged ‘Martha Stewart’

Martha Stewart Inks New Deal as Chief Creative Officer

According to The New York Post, Martha Stewart has inked a new deal for five more years with a one-year out clause for a reported annual salary of $2 million.

The five-year deal with Martha Stewart Living Omnimedia will pay another $2.1 million to her MS Real Estate Management Company.

The new deal indicates her title of chief creative officer but apparently doesn’t reflect her significantly decreased exposure on television (her syndicated show on the Hallmark Channel ceased production in April).

As for her one-year out clause, according to the newspaper, the filing indicates: “Under the extension letter, if the parties do not reach an agreement regarding mutually acceptable adjustments, the company can choose to have the employment agreement continue in effect through June 30, 2017 or to allow it to lapse at June 30, 2013.”

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Martha Stewart Omnimedia Co CEO ‘Stepping Down’

Wenda Millard, co-CEO of MSLO and “President of Media,” is stepping down. The company has no plans to replace her; instead giving her workload to three other MSLO execs—Martha included.

Peter Kafka at MediaMemo says it’s been a long-standing rumor that Millard was unhappy at her position. No word on what she’ll do next.

Release after the jump.

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