• by David Goetzl  @dgoetzl, June 29, 2007

Lifetime's renowned ad sales chief Lynn Picard resigned Thursday, but the move appears to have its genesis two months earlier, when the company named a new CEO. While not directly addressing the issue, Picard hinted in a statement that she hoped to be given the chance to run the company.

Instead, when Betty Cohen left after a difficult two years, Lifetime tapped ABC executive Andrea Wong.

"There comes a time when you look around and say there's something you want in your career that you don't think you can get in your current position. And you feel ready for a new challenge," Picard said. She added that it was "such a difficult decision ... to leave a job that has been a home."

Picard, a 13-year Lifetime veteran and ad sales president since 2005, is not believed to have another job lined up. (She indicated that she will take the summer off). But while continuing to head the ad sales team, her duties expanded into general management, including temporarily holding the title of executive vice president of interactive entertainment.

Lifetime said ad sales quadrupled during Picard's tenure.

Her departure comes just as Lifetime is wrapping up what the company says is a successful upfront--after a year in which ratings declined significantly in its target female 18-to-49 demo. No replacement has been named. Rick Basso, senior vice president of pricing and planning, and John Matluck, senior vice president-ad sales, will take over in the interim.

"Lynn has made enormous contributions to the growth and success of the company, for which we are very grateful," said Wong, President-CEO of Lifetime Entertainment Services, in a statement. "Although we understand her decision to leave in order to realize her fullest goals and ambitions, we will all miss the style, panache and intelligence that have made her so beloved and respected at Lifetime and throughout our industry."

Wong was named President-CEO one day after Cohen and Picard appeared on stage at Lifetime's April 26 upfront presentation.

The decision to name Wong--the executive vice president-alternative programming, specials and late night at ABC since 2004--as CEO was likely driven by Anne Sweeney, president of the Disney-ABC Television Group. Lifetime is a 50/50 joint venture between Disney and Hearst.

Picard headed ad sales at three TV networks--the flagship, LMN (Lifetime Movie Network) and Lifetime Real Women--and a slew of new media ventures, including a popular online gaming offering.

In 2005, the flagship Lifetime network pulled in $828.8 million in on-air ad dollars, a figure that declined last year as ratings fell, according to TNS Media Intelligence.

She joined Lifetime in 1994 as senior vice president-ad sales from ESPN, where she had been vice president-business development and had worked since 1989. Besides the president-ad sales title, she was executive vice president-general manager of Lifetime Television, which she took on in 2003.