Overstock CEO resigns
Overstock’s founder and CEO, Patrick Byrne, has resigned after making controversial “deep state” comments.
The controversy started after Byrne told The New York Times he was romantically involved with Maria Butina.
Butina turned out to be a Russian operative and NRA activist and was sent to prison.
Byrne initially issued a statement saying he helped in government investigations related to the Clintons and Russian interference in the 2016 election.
The news sent the commerce giant’s stock down by more than 30%.
Overstock has appointed Jonathan Johnson, who runs the company’s blockchain subsidiary Medici Ventures, as interim CEO.
The company’s stock was hit again by as much as 15% after the Aug. 22, 2019 announcement of Byrne’s departure.