President of media Wenda Harris Millard and president of merchandising Robin Marino were promoted to the positions of co-CEO in her stead. Millard and Marino will report to Charles Koppelman, chairman of the board of MSLO.
"Four years ago, when the board asked me to take on this role, our principal goal was to rebuild the company and return it to profitability. We have done that,” Lyne said in a statement. “While there is never a perfect time to depart, the company is on sound footing and we expect the transition to be very smooth.”
Lyne will stay on in an advisory role to ensure a smooth transition.
Prior to joining MSLO, Lyne was president of ABC Entertainment, where she oversaw development of shows including Lost and Desperate Housewives.