Martha Stewart Living Omnimedia to Dump New CEO

Martha Stewart Living Omnimedia CEO Lisa Gersh is expected to announce her resignation, possibly as early as this week, just five months after she was elevated to the top job.

The struggling company is said to be weighing a new strategy in an attempt to transform itself into one more focused on merchandising across a range of products.

For months, there also has been talk of tension between Gersh, an experienced media executive, and the company's namesake founder and chief creative officer.

Stewart was said to crave broad television exposure and was upset in January when the Hallmark Channel ended her daily talk show.