SALT LAKE CITY, July 15, 2016 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) announced today that Stormy Simon will be resigning as the company’s President to pursue other opportunities, effective no later than July 25, 2016. Simon will remain a member of Overstock.com’s board of directors until no later than September 30, 2016.
“We wish to thank Stormy for her long and valued service, leadership, and passion for Overstock,” said Patrick M. Byrne, the company’s founder and CEO, currently on medical leave. “She has been a key contributor to Overstock’s evolution and growth from the early years, serving in a broad spectrum of roles and providing valuable leadership as president since 2014, and as a member of our board since 2011.”
“This is the end of an era, and we want to wish Stormy the best of luck in her next endeavor,” added Overstock.com Chairman Jonathan Johnson.
Simon commented, “While I will miss seeing my friends at Overstock on a daily basis, I am excited to focus my efforts on helping lead a new generation of entrepreneurs in developing a new sector of emerging markets.”
To ensure a smooth transition, Overstock.com’s presidential duties will continue to be divided amongst Acting CEO Mitch Edwards, Chief Revenue Officer Saum Noursalehi, and Senior Vice President Brian Popelka.
“I am confident that our leadership team is poised to handle this transition while driving the vision and strategy for 2016 and beyond,” said Edwards.
Overstock.com, Inc. (NASDAQ:OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, rugs, bedding, electronics, clothing, and jewelry. Additional stores within Overstock include Worldstock.com, dedicated to selling artisan-crafted products to help developing nations around the world and Main Street Revolution, supporting small-scale entrepreneurs in the U.S. by providing them with a national customer base. Other community-focused initiatives include Farmers Market and pet adoptions. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock sells internationally under the name O.co and regularly posts information about the company and other related matters under Investor Relations on its website (http://www.overstock.com and http://www.o.co)
O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock and OVillage are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended March 31, 2016, which was filed with the SEC on May 5, 2016, and any subsequent filings with the SEC.