The CEO and board member of Beyond Inc., Jonathan Johnson, has announced his resignation, as stated by former parent company Overstock.com Inc. The decision for Johnson’s departure was reached by mutual agreement between him and the board, with the aim of transitioning the company to new leadership.
Interim CEO Appointed
In light of Jonathan Johnson’s resignation, David Nielsen, the current President of Beyond Inc., has been appointed as the Interim CEO and President. This move signifies an expansion of Nielsen’s role within the organization.
Search for Permanent CEO Begins
With the change in leadership, Beyond Inc. has initiated an internal and external search for a permanent CEO. The company is determined to find a suitable candidate who will continue to drive the company’s growth and success.
Restructuring and New Name
Having acquired the intellectual property of bankrupt company Bed Bath & Beyond, Overstock.com Inc. has operated under the name Bed Bath & Beyond. However, it was recently announced that the company is undergoing significant changes. Overstock.com will now be known as Beyond Inc., and its stock listing will move from Nasdaq to the New York Stock Exchange. Additionally, the company’s ticker symbol will be changed to BYON, effective November 6th.
It is worth noting that Overstock.com shares have experienced a decline of 13.3% in 2023, while the S&P 500 index has gained 13.5%.