Overstock looks to distance itself from former CEO

SALT LAKE CITY — Online home furnishings retailer Overstock issued a statement distancing itself from former CEO Patrick Byrne in light of emerging details about Byrne’s political entanglements.

“In response to recent news about him: Overstock has no association or affiliation with Patrick Byrne and has not for almost three years,” the company said on social media on July 13. “He left the company in August 2019, more than a full year before the 2020 election. He sold all of his Overstock shares in September 2019 (source: Marketwatch Report). Since then, he has not been connected with Overstock. His personal and political beliefs and actions are his own. Overstock is an apolitical home furnishings and furniture business with a commitment to quality and service. We help our customers furnish their dream homes. For more information on Overstock and our executive team, please visit overstock.com/about.”

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Patrick Byrne

Byrne, who founded the Salt Lake City-based company in 1999, was reportedly part of former President Donald Trump’s inner circle late in his administration and was at a meeting in mid-December 2020 at the White House to discuss strategies to overturn the election. It is reported that Byrne will meet with the House of Representatives’ select committee, which is investigating the events leading up to Jan. 6, 2021.

Prior to his resignation in 2019, Byrne revealed that he was an informant for the government in several investigations into the “Deep State.” In a statement issued to shareholders, he said, “While I believe that I did what was necessary for the good of the country, for the good of the firm, I am in the sad position of having to sever ties with Overstock, both as CEO and board member, effective Thursday, Aug. 22 (2019).”

Jonathan Johnson has served as CEO of the company since Byrne left.

Thomas Lester is Retail Editor for Furniture Today and Digital/Managing Editor for Home Accents Today. A graduate of Emory & Henry College’s Mass Communications program, Lester spent a dozen years working for newspapers in Virginia and North Carolina covering an array of subjects, ranging from community news, government, education, ACC sports, professional baseball and more before joining Furniture Today in 2013. Reach out to me with your story ideas, tips and more at tlester@furnituretoday.com.

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