From Home Furnishing Business
CEO & Board Member of Beyond.com, Formerly Overstock, Steps Down
Beyond, Inc., 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. Johnson’s departure follows mutual agreement by the Board and Mr. Johnson to transition the company to new leadership. The Board has initiated a comprehensive internal and external search process to identify a permanent Chief Executive Officer.
While the search proceeds, David Nielsen has been appointed to an expanded role as Interim CEO and President and will lead the company as it moves into the future operating as the new Bed Bath & Beyond. Additionally, Adrianne Lee, Chief Financial Officer, will expand her responsibilities to oversee legal and human resources functions in addition to the finance organization.
“Following the recent acquisition of the Bed Bath & Beyond brand and our corporate renaming as Beyond, Inc., the Board and Jonathan determined that this is the ideal time for a transition in leadership to guide the company forward,” said Allison H. Abraham, chair of the board of directors.
“Jonathan has been integral to the company’s successful evolution over more than two decades of service. We thank him for his leadership, foresight and immense contributions that helped build the company into the leading online furniture and home furnishings retailer that it is today and is now poised to capture greater opportunities in the future.”
“I am incredibly proud of all that we have achieved to transform the company since becoming CEO – evolving to a leading online home retailer with an iconic name and a large, growing consumer base,” said Mr. Johnson.
“As the company turns the page to become Beyond, now is the right time for me to also turn the page to the next chapter in my career. It has been an honor to work with such an exceptional team. I am confident the company is well-positioned to achieve broader popular reach as a bigger and better Beyond.”
Ms. Abraham added, “The Board is confident that Dave is the right person to advance the company’s transformation through this interim period. He is currently responsible for key functions across the organization and will continue to lead our ongoing strategic initiatives in addition to new ones. We also look forward to Adrianne taking on greater administrative responsibilities along with her role as Chief Financial Officer.”
“Together, Dave and Adrianne have nearly 15 years of experience at the company and have the full support of the Board. They possess the right expertise and talent to lead the organization and drive improved performance while the Board focuses on identifying the new CEO.”
As announced on Oct. 24, the change in the company’s corporate name from Overstock.com, Inc. to Beyond, Inc. is effective today. Along with the corporate name change, the company has transferred its stock listing from the Nasdaq Global Market (NASDAQ) to the New York Stock Exchange (NYSE) and changed its ticker symbol from OSTK to BYON.