Overstock CEO Patrick Byrne announced today that he volition accept a medical exit of absence from the online retail giant.
Revealed inward a missive of the alphabet to shareholders, the motility comes equally the online retailer moves ahead alongside plans to launch a blockchain-powered securities exchange, dubbed tØ. Overstock has spent millions on that initiative, in addition to the trace of piece of employment solid lately indicated its intention to issue its ain stock on the platform inward the future. Byrne himself has acquire a noteworthy advocate for the emerging technology since the online retailer source started taking bitcoin payments in 2014. Byrne said in the letter that handling related to a diagnosis of hepatitis C, an infectious illness that targets the liver, is the primary driver behind the "indefinite" leave. Byrne has recommended that Overstock particular counsel in addition to senior vice president Mitch Edwards serve equally acting principal executive.
In the letter, Byrne suggested that Edwards would endure well-suited to buy the farm along spearheading the firm's blockchain efforts, stating: "Mitch is an outstanding full-spectrum entrepreneur who has serving equally our full general counsel for 6 months in addition to has learned our business, in addition to understands our t0 efforts to revolutionize the uppercase markets."
Image via Overstock
