Overstock Co-founder Resigns

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Overstock Co-founder Resigns

01-04-2008, 11:18 AM,

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mandy Offline

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Overstock Co-founder Resigns

Quote:Overstock.com cofounder Jason Lindsey has resigned from the company's board and has given up his titles of president and chief operating officer, an unexpected move likely to raise questions about the company's holiday season performance.

Lindsey, who founded Overstock with CEO Patrick Byrne, stepped down effective the end of 2007; however, he will continue to work on special projects at the company for a time...

The departure of Lindsey may also resonate with investors because Byrne is perhaps best known for his long-time crusade against what he claims is extensive and secretive short-selling of Overstock shares, a practice that has helped keep a lid on the stock price even as the company's overall performance has improved.

Competitors, meanwhile, may have pulled away from Overstock in the holiday season, which would make it harder for the company to stay profitable...

full article: http://ecommercetimes.com/story/Overstoc...61036.html

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