Martha Stewart rejoins her company's board

AP News
Posted: Sep 26, 2011 10:19 AM
Martha Stewart rejoins her company's board

Martha Stewart Living Omnimedia says its namesake and founder has rejoined its board of directors.

Her return coincides with the end of her five-year ban from serving on the board or as an executive of a public company. That was part of a settlement with the Securities and Exchange Commission over insider-trading charges.

New York-based Martha Stewart Living Omnimedia Inc. said in May that Martha Stewart would rejoin the board in the third quarter.

Stewart was convicted on federal criminal charges in 2004 for lying to prosecutors about selling ImClone shares a day before the Food and Drug Administration announced it declined to review an ImClone application for a cancer drug. She served five months in prison.

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With the addition of Stewart, the board expands to nine members.