If Patrick Byrne is indeed headed to a beach to forget about Overstock’s problems, the remaining company executives and investors are left holding the shopping bag, so to speak, writes tpoletti.
The sudden resignation of Overstock.com Inc. founder and Chief Executive Patrick Byrne takes away a major distraction, but doesn’t solve any issues for the questionable company.
In a lengthy 16-minute interview on Fox Business’s “Bulls and Bears,” Byrne said he is leaving Overstock in a “perfect place” and said that he is “not getting chased out” of his company. He said he came forward with information about political espionage against Hillary Clinton, Marco Rubio, Ted Cruz and Donald Trump because he felt it was his duty as an American, and that it had nothing to do with Overstock.
If there was any doubt though, that Byrne’s vision remains intact, one obvious clue is that Jonathan Johnson III, the president of Medici Ventures, Overstock’s blockchain arm, was named interim chief executive of Overstock. Overstock’s Chief Algorithms Officer Kamelia Aryafa, who was described as a brilliant machine-learning scientist, replaced Byrne on the board. She was also promoted to executive vice president in the retail business. Johnson is already on the board.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Overstock's stock soars after controversial founder and CEO Patrick Byrne resigns, effective immediatelyShares of Overstock.com Inc. soared 15% in midday trading Thursday, after controversial Founder and Chief Executive Patrick Byrne resigned from discount...
Read more »
Patrick Byrne Resigning as Overstock.com Chief ExecutivePatrick Byrne, CEO of online retailer Overstock.com, resigned, saying he didn’t want his presence to distract from the company’s business strategy.
Read more »
The Exclusive Inside Story Of The Fall Of Overstock’s Mad King, Patrick ByrneEarlier today, Patrick Byrne, the founder and longtime CEO of former e-tailing giant Overstock.com resigned, saying his involvement as a federal informant in the investigation of infamous Russian spy Maria Butina made performing his duties impossible. That’s not the whole story. This is.
Read more »
Overstock CEO Patrick Byrne resigns following 'deep state' commentsOverstock CEO Partick Byrne has resigned from the e-commerce company after making controversial comments about his role in the 'Deep State.'
Read more »
The Exclusive Inside Story Of The Fall Of Overstock’s Mad King, Patrick ByrneEarlier today, Patrick Byrne, the founder and longtime CEO of former e-tailing giant Overstock.com resigned, saying his involvement as a federal informant in the investigation of infamous Russian spy Maria Butina made performing his duties impossible. That’s not the whole story. This is.
Read more »