Will Remain as 'Founding Editorial Director'

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NEW YORK ( -- Martha Stewart has stepped down as chief creative officer of Martha Stewart Living Omnimedia and as a director of the company, following her conviction on federal charges.

Omnimedia said Ms. Stewart will continue with the company, but in a new position, founding editorial director. She will work on editorial and TV assignments and new product design and development; author two upcoming books; and provide input on Omnimedia's brands and strategy. She will report to CEO Sharon Patrick.

New director
The announcement also said the company's board will chose a new director to replace Ms. Stewart, with her input.

"The company and our constituencies benefit most if we are able to continue to take advantage of Martha's creative inspiration and capitalize on her prodigious skills and experience in the domestic arts," Ms. Patrick said in a statement.

Omnimedia has been maneuvering around the repercussions of Ms. Stewart's legal problems, as the company's business suffered in the wake of her indictment. She was convicted March 5 of obstruction of justice, conspiracy and two counts of making false statements to federal investigators probing her sale of shares in Imclone Systems, a biotechnology company.

Trademark application
During the trial, Omnimedia applied to trademark the name "Everyday Living" for a magazine. The company declined to comment if the application was made with an eye toward a possible name change for the company's flagship magazine, Martha Stewart Living, but its syndicated newspaper columns on living and weddings have already been renamed, dropping Ms. Stewart's name.

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