Overstock Appoints Jonathan Johnson as Company’s New CEO

Must Read

Get Bitcoin with Arcade Games

RollerCoin is an online, virtual bitcoin mining game where you compete against your friends to mine bitcoins....

Visa and Mastercard Raise fees, Merchants faces towards Crypto

Credit card providers charge merchants a cut of the payments they accept, called interchange fees or swipe...

Get $200 Bitcoin for free hourly

Win upto $200 in Bitcoins every hour, no strings attached! Multiply your bitcoins, free weekly lottery with...
- Advertisement -
Earn Free Bitcoin

American e-commerce giant Overstock.com has appointed Jonathan Johnson as the company’s new chief executive officer, according to an announcement on Sept. 23.

Johnson has served as an interim CEO of Overstock since the end of August when Patrick Byrne stepped down. Presently, Johnson also acts as the company’s member of the board of directors, president at Overstock’s venture capital arm Medici Ventures, and chairman of the board at its blockchain-focused subsidiary tZERO Group. Johnson stated:

“Overstock has two unique businesses. […] I have run both, and I know how to unlock the value in each. I’m confident we can rapidly return our retail business to profitable growth. Our transformative blockchain businesses continue to lead their respective industries by getting real products into production.”

Overstock also revealed that it appointed former principal financial officer Robert Hughes as acting chief financial officer, who replaced Greg Iverson.

Impetus behind Byrne’s resignation

As previously reported, Byrne cited the announcement of his controversial relationship with Maria Butina as the impetus for cutting ties with Overstock. In his letter of resignation, Byrne reaffirmed his faith that “the blockchain revolution will reshape key social institutions.” However, it is questionable to what degree this faith will direct Overstock’s future in Byrne’s absence.

Earlier in September, Byrne cashed out nearly 4.8 million Overstock (OSTK) shares, which accounted for more than 13% of the company. Byrne later published a public letter, in which he revealed his plans to stop trading anything else except the three assets that are “counter-cyclical to the economy,” including gold, silver and “two flavors of crypto.”

- Advertisement -
- Advertisement -

Latest News

Visa and Mastercard Raise fees, Merchants faces towards Crypto

Credit card providers charge merchants a cut of the payments they accept, called interchange fees or swipe...
- Advertisement -Earn Free Bitcoin

CubeBit has come forward to sponsor Future Blockchain Summit 2020

November-18-20 - CubeBit 2.0 has come forward to sponsor Future Blockchain Summit 2020. The event will be held at the Dubai World Trade Centre,...

USDT Is A Game Changer For Online Poker

CoinPoker - the flagman of the industry, the biggest and the oldest pure crypto poker room is the first to...

DeepTradeBot: The innovation of large companies at your service

DeepTradeBot is a collection of automated trading tools developed by Deep Neuro Networks LTD, a London, England-based company dedicated to artificial intelligence and...

Flyp.me Instant Crypto Exchange Now Supports REN Token Trading

Decentralized finance is leading the way of the cryptocurrency industry, with the REN Protocol at the front. REN Protocol is...