Johnson is also departing the Board of Directors at Beyond. The agreement to step down was a mutual one between him and the board. His departure has the company seeking out a replacement CEO via an external and internal search.
While Beyond is seeking out its next CEO, President David Nielsen is serving in that role temporarily. Chief Financial Officer Adrianne Lee will also expand her responsibilities to “oversee legal and human resources functions in addition to the finance organization.”
Allison Abraham, Chair of the Board of Directors, said the following in a news release:
“Together, Dave and Adrianne have nearly 15 years of experience at the company and have the full support of the Board. They possess the right expertise and talent to lead the organization and drive improved performance while the Board focuses on identifying the new CEO.”
What’s Next for BYON Stock
This change in leadership comes at a time when Beyond is undergoing massive changes. The company previously operated as Overstock.com and changed its name after acquiring Bed Bath & Beyond. It’s bringing together elements from both of these businesses to complete its transformation into Beyond.
BYON stock is down 2.3% as of Monday morning.
Investors seeking out even more of the latest stock market news are going to want to stick around!
We’re offering up all of the hottest stock market stories worth reading about on Monday! Among that is what has shares of WeWork (NYSE:WE), RiskOn International (NASDAQ:ROI) and NexImmune (NASDAQ:NEXI) stock in the news today. All of that info is ready to go at the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.