It was a short reign. Lisa Gersh, who was named CEO of Martha Stewart Omnimedia in July, has "stepped down" per the company, The Wrap reports. Company directors are searching for a successor. The company’s shares have lost 45% of their value over the last 12 months, and fell about 1.2% in initial trading today. Omnimedia's Whole Living magazine was also closed this year. Gersh had served as Omnimedia president and COO since 2011.