Overstock rebrands to Beyond, CEO abruptly resigns under pressure from activist shareholders

[Brian Lutz]

https://www.cnbc.com/2023/11/06/bed-bat ... ition.html

On the same day that Overstock officially changed its name to Beyond Inc (after purchasing the leftovers from the Bed Bath and Beyond bankruptcy,) CEO Jonathan Johnson has abruptly resigned. This follows a letter a week ago from activist investor JAT Capitol (which owns 9.6% of the company) calling for Johnson to be fired.

[rwsandiego]

https://www.cnbc.com/2023/11/06/bed-bat ... ition.html

On the same day that Overstock officially changed its name to Beyond Inc (after purchasing the leftovers from the Bed Bath and Beyond bankruptcy,) CEO Jonathan Johnson has abruptly resigned. This follows a letter a week ago from activist investor JAT Capitol (which owns 9.6% of the company) calling for Johnson to be fired.

Thinking back to Carl Icahn and the wrecking ball he took to companies (including several retailers who, as a result of leveraged buyouts and ill-fated mergers, are no longer with us), this is the type of thing that often leads to a company's demise.

[veteran+]

https://www.cnbc.com/2023/11/06/bed-bat ... ition.html

On the same day that Overstock officially changed its name to Beyond Inc (after purchasing the leftovers from the Bed Bath and Beyond bankruptcy,) CEO Jonathan Johnson has abruptly resigned. This follows a letter a week ago from activist investor JAT Capitol (which owns 9.6% of the company) calling for Johnson to be fired.

Thinking back to Carl Icahn and the wrecking ball he took to companies (including several retailers who, as a result of leveraged buyouts and ill-fated mergers, are no longer with us), this is the type of thing that often leads to a company's demise.

You can add Ron Perelman to that list of rapacious corporate carnivores.