NEW YORK ( TheStreet) -- Martha Stewart Living Omnimedia ( MSO) has announced that the company's chief financial officer, Kelli Turner, will step down from her post. Turner plans to join a private company "in the near future," according to a company press release. "I want to thank Kelli for her many contributions and wish her well in her new role. I have great confidence in the financial team that remains in place," said executive chairman and principal executive officer Charles Koppelman. "With 14 years of senior finance experience with the company, Allison has a deep understanding of the business and is a well respected member of the executive team." MSLO says controller Allison Jacques will serve as the principal financial and accounting officer while the company searches for a new CFO. MSLO's shares are down more than 1% over the past year and have recently been trading around $4.40, which is at the lower end of the stock's 52-week price range of $4.22 to $7.45. Shares are falling 1.14% in early morning trading to just above $4.30. -- Written by Theresa McCabe in Boston. >To contact the writer of this article, click here: Theresa McCabe. >To follow the writer on Twitter, go to @TheresaMcCabe. >To submit a news tip, send an email to: firstname.lastname@example.org.