Shares of Martha Stewart Living Omnimedia Inc. (NYSE: MSO) jumped in Monday trading after the company said it hired a new advertising executive from Yahoo! Inc (Nasdaq: YHOO).
Wenda Harris Millard, the former chief sales officer at Yahoo, will join the company in a newly created position as president of media.
Shares were up 48 cents, or 2.76 percent in mid-day trading, to reach $17.88, after jumping nearly 5 percent at the opening bell.
Millard will oversee the company's media businesses, which include publishing, internet and broadcasting.
Her appointment speaks to our strategic commitment to internet expansion, and to maximizing the potential of our consolidated media assets, Susan Lyne, the company's President and Chief Executive Officer, said in a statement.