Photo: ShutterstockFormer General Counsel Becomes Overstock's New CEO
Jonathan Johnson served as the company's top lawyer from 2002 to 2005 and succeeds longtime CEO and founder Patrick Byrne, who stepped down after 20 years over backlash on his political comments.
September 24, 2019 at 02:59 PM
2 minute read
Jonathan Johnson, the former general counsel of e-commerce website Overstock.com Inc., has been named the permanent CEO of the company after serving in the interim role for the last month.
Johnson, who served as the Salt Lake City-based company's top lawyer from 2002 to 2005, succeeds longtime CEO and founder Patrick Byrne. In August, Byrne stepped down after 20 years over backlash on his political comments. Johnson also had served as acting CEO when he was the president in 2013. He's held various roles within the company since 2002, including senior vice president, vice chairman, board chairman and most recently board member.
Jonathan E. Johnson III, CEO of Overstock, and President of Medici Ventures in Salt Lake City, Utah.
"Overstock has two unique businesses," Johnson said in the announcement. "I have run both, and I know how to unlock the value in each. I'm confident we can rapidly return our retail business to profitable growth. Our transformative blockchain businesses continue to lead their respective industries by getting real products into production."
Johnson will continue being president and board member of Medici Ventures, a blockchain technology venture owned by Overstock. The company also named an acting chief financial officer, Robert Hughes, adding CFO Greg Iverson had resigned. Hughes also will remain president at a Medici Ventures subsidiary.
Prior to Overstock, Johnson worked at TenFold Corp., where he was CFO and general counsel. Before taking in-house positions, Johnson had been an attorney at Milbank and Graham & James, according to his LinkedIn profile. He is a graduate of the J. Reuben Clark Law School at Brigham Young University.
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