Sometimes when an activist gets involved things can happen quickly, which is exactly the case with the former Overstock.com.
Jonathan Johnson Steps Down as Chief Executive Officer Dave Nielsen Appointed Interim CEO and President; Adrianne Lee, CFO, Takes on Expanded Responsibilities MIDVALE, Utah , Nov. 06, 2023 (GLOBE NEWSWIRE) -- Beyond, Inc., (NYSE: BYON), the online home furnishing company formerly known as Overstock.com, Inc. that now operates as Bed Bath & Beyond, today announced that Jonathan Johnson has stepped down as Chief Executive Officer and a member of the Board of Directors, effective immediately. Mr. J
Hedge fund JAT Capital urged the board of internet retailer Overstock.com to replace the company's chief executive officer, arguing that Jonathan E. Johnson III is to blame for poor financial performance. JAT, run by John Thaler, owns a 9.6% stake in Overstock.com, and is stepping up pressure, having called on the company in October to consider selling certain assets and to overhaul management compensation. "The current CEO needs to be removed immediately," JAT wrote to the board in a letter dated Nov. 2 and made public in a regulatory filing on Friday.