formerly Overstock.com, is shaking up its top leadership position as it looks toward its next stage of growth under the new
Bed Bath & Beyond
CEO Jonathan Johnson stepped down from his role and from his position on the board of directors Monday. The move is a result of “mutual agreement” by Johnson and the Board to transition the company to new leadership.
“As the company turns the page to become Beyond, now is the right time for me to also turn the page to the next chapter in my career,” Johnson said in a news release.
Johnson joined Overstock.com in 2002, serving in multiple roles until he was appointed CEO in 2019, when longtime chief executive Patrick Byrne resigned.
David Nielsen will be interim CEO as the board completes its search for a permanent chief executive. Nielsen has been Beyond’s president since 2019, but has held other roles within the company, including chief sourcing and operations officer. Adrianne Lee, the company’s current chief financial officer, will take on expanded responsibilities during the search period, the company said.
The company’s shift began when it acquired the Bed Bath & Beyond brand out of bankruptcy this summer. It has since taken steps to rebrand itself from online furniture liquidator Overstock.com to Beyond, Inc., (ticker:
) an e-commerce platform with a broad home goods assortment.
In late October, the company said it would change its corporate name from Overstock.com to Beyond Inc.–a change that became effective today. This is also the first day that the stock will trade on the New York Stock Exchange under its new ticker symbol, “BYON.”
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