Overstock.com board appoints Patrick Byrne chairman and CEO
In another shuffle of top management at Overstock.com, Patrick Byrne has been named chairman and CEO of Overstock.com, dual titles he had held until last August, when his father, retired insurance industry veteran Jack Byrne, was appointed chairman by Overstock’s board.
Jack Byrne, a director of the company from October 1999 until October 2002, had rejoined the board in 2004. He has been named deputy chairman. Jack Byrne retired as chairman of White Mountain Insurance Group and Montpelier Re, and is a former CEO of White Mountain Insurance Group, CEICO and Fireman’s Fund. He also has served on the board of American Express, Martin Marietta, Lehman Brothers, and several other firms and organizations.
Appointed as president and CFO of the company was Jason Lindsey, who co-founded Overstock with Patrick Byrne. Lindsey was Overstock’s CFO from 1999 until he retired in August 2003, and served also as Overstock.com’s president from April 2003 until his retirement in August of that year. Lindsey also was on Overstock’s board of directors from October 1999 to October 2003.
“Jason is a brilliant businessman and was my partner in launching Overstock,” says Patrick Byrne. “I’m thrilled to have him back. My father continues to be my most important advisor.”
The appointments, announced at Overstock’s annual shareholders meeting, end speculation, tied to earlier published reports, that Jack Byrne might resign as chairman after reported disagreement between the two Byrnes regarding Patrick Bryne`s objections to how the company has been covered by some reporters and analysts.
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