Martha Stewart's New CEO Choice Suggests Cuts Ahead

Martha Stewart Living Omnimedia's choice of former metals-industry executive Daniel Dienst to lead the company meant going outside the media business for a manager with operational experience -- one who can hopefully reshape the unprofitable company.Mr. Dienst, the former CEO of scrap-metal recycler Sims Metal Management, will take the same position at Martha Stewart Living Omnimedia, the home-decor retailing and publishing company said Monday in a statement. Mr. Dienst, 48, had been at Sims and its predecessor company Metal Management Inc. from 2003 to June of this year. He joined the Martha Stewart Living board in August.The company has been trying to recast itself as a merchandiser after years of losses as a media business. Bringing in Mr. Dienst, who has little retail experience though plenty in fixing up companies, means Martha Stewart Living will probably be cutting more costs, said Mike Kupinski, an analyst with Noble Financial Capital Markets. Continue reading at AdAge.com Continue reading at 'Advertising Age'

[ Advertising Age | 2013-10-29 00:00:00 UTC ]

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