Omnimedia nabs entertainment vet to replace Siekman
Martha Stewart Living Omnimedia — which continues to recover from Stewart’s legal scandal — has tapped entertainment exec and board vice chairman Charles Koppelman to succeed Thomas C. Siekman as chair.
All sides insisted that Siekman’s departure from the top seat was amiable, underscoring that he will remain on the board as lead director, sitting in on all meetings.
Still, Siekman leaves just shy of a year in the post — a year that saw Stewart serve a five-month prison term for conviction on federal obstruction of justice charges. Siekman replaced venture capitalist Jeffrey Ubben, who only served as chair for 14 months.
In addition to upping Koppelman to chair, the board expanded his consulting deal with Martha Stewart Living.
Martha Stewart Living prexy-CEO Susan Lyne and Stewart both praised Koppelman for working in recent months to give the media company renewed focus.
Koppelman, also the chair-CEO of CAK Entertainment, helped hatch the deal between Martha Stewart Living and Sirius Satellite Radio to launch a womencentric 24/7 channel featuring home and gardening programming.
This fall, Stewart will return to the airwaves, toplining a new syndicated show and an “Apprentice” spinoff for NBC primetime.
Koppelman was previously the topper of EMI Publishing and EMI Records’ North American operation.
Upon the news, Martha Stewart Living shares jumped 70¢ on Friday to close at $29.20, a gain of 2.46%.