Sequential Brands is on the look-out for a new chief executive as it considers a range of strategic options following the sale of the Martha Stewart and Emeril Lagasse brands earlier this year. Sequential has hired the investment bank Stifel to help it explore additional brand divestments, potential acquisitions, stock buybacks and other options as it resizes its operational cost structure. Several parties have expressed interest in the group's brands, which include And1, Avia, Heelys, Gaiam and SPRI on the active front. Karen Murray, who joined the brand licensing group as CEO over two years ago, will leave her post but stay on to advise Sequential while it looks for new leadership. Chad Wagenheim, who oversaw strategic development and operations, will take over as group president and help in the transition. The group has been struggling for several years, weighed down by its 2015 acquisition of Martha Stewart at the astronomical price of 23 times Ebitda. This August, Sequential reported a financial loss following the sale of Martha Stewart and Emeril Lagasse. Total revenue from continuing operations for the second quarter ended on June 30, 2019, were down to $26.4 million, compared to $33.1 million in the prior-year quarter, leading to a net loss of $3.3 million for the period.

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