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.
tpoletti He resigned today, not Tuesday
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