Beyond Inc., the former Overstock.com Inc., has announced that its CEO Jonathan Johnson has resigned from his position and the board of directors, following a mutual agreement to transition to new leadership.
The company has appointed David Nielsen, the current president, as the interim CEO and president, while conducting a search for a permanent CEO.
Johnson was the CEO of Overstock.com Inc. since 2019, and oversaw the company’s acquisition of the intellectual property of Bed Bath & Beyond, a bankrupt home goods retailer, in June 2023. The company then changed its name to Beyond Inc., moved its stock listing to the New York Stock Exchange, and changed its ticker symbol to BYON, effective Nov. 6.
Nielsen has been the president of Beyond Inc. since 2020, and has been with the company since 2009, holding various roles in merchandising, sourcing, and operations. He will lead the company’s strategy and operations until a permanent CEO is appointed.
The company said that the leadership change is part of its vision to become a leading online retailer of home and lifestyle products, and to create value for its customers, employees, and shareholders.
Beyond Inc. shares have declined 13.3% in 2023, compared with the S&P 500 index’s gain of 13.5%.
Leave a Reply