Surprised? Martha Stewart resigns.

From the press release (one sure to inspire many parodies):

The Board of Directors of
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) announced today that Martha
Stewart has resigned effective immediately as a Director and Chief Creative
Officer of the company, and will assume the position of Founding Editorial
Director. These actions follow the recent verdict against Ms. Stewart in a
personal legal matter unrelated to the company and its businesses.

In making the announcement, Jeffrey Ubben, Chairman of the MSO Board of
Directors, said: “The MSO Board respects Martha’s decision to resign her
officer and director positions. In accepting her resignation, we have decided
to create a new, continuing role as Founding Editorial Director – a role that
reflects our desire for Martha to continue to make an important contribution
to our business. The Board determined that, notwithstanding the significance
of the recent verdict, continuing to have the benefit of Martha’s unique
creative talents and contributions is in the very best interests of MSO and
its shareholders.”

In her new role, Ms. Stewart will continue to provide creative inspiration
for new product design and development; author two pending books, Homekeeping
and Baking; undertake contributing editor and television assignments; help
continue to build public profiles for MSO’s talented core content experts; and
provide input on the continuing evolution of MSO and its brand and brand
labels and on strategic issues. She will report to the company’s CEO, Sharon

My favorite line from the press release: “…a
personal legal matter unrelated to the company and its businesses.”