- A day after announcing founder and long-time CEO Patrick Byrne is taking a medical leave of absence, Overstock (NASDAQ:OSTK +1%) says it has named SVP/general counsel Mitch Edwards its acting CEO.
- Notably, Overstock adds Byrne "had recommended that the board of directors appoint Edwards as his successor, citing his experience as 'an outstanding full-spectrum entrepreneur,' along with his understanding of both Overstock.com’s core businesses and blockchain-based crypto initiatives."
- Chairman Jonathan Johnson: "The board of directors is confident that Mitch is the right choice to continue the growth of the company. His past experience and ability to lead the existing management team makes him ideally suited for the role of acting CEO."