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Patrick Byrne, who founded Overstock in 1999, has resigned as CEO.
In a letter to shareholders, Byrne stated that his remarks earlier this month about the FBI, the “deep state,” and his romantic involvement with a jailed Russian agent “complicate all manner of business relationships.” Jonathan Johnson, an Overstock board member for 17 years, will serve as interim CEO.
“Though patriotic Americans are writing me in support, my presence may affect and complicate all manner of business relationships, from insurability to strategic discussions regarding our retail business,” Byrne wrote in the letter to shareholders.
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