Companies Beyond Inc FollowNov 6 (Reuters) - Internet retailer Beyond Inc (BYON.N), formerly known as Overstock.com, on Monday said its chief excecutive, Jonathan Johnson, has stepped down amid activist investor pressure.
Hedge fund JAT Capital, which owns a 9.6% stake in Beyond Inc, last week urged the board to replace CEO Johnson, arguing that he is to blame for the company's poor financial performance.
JAT Capital did not immediately respond to a Reuters request for comment on the change.
Overstock.com rebranded its website under the Bed Bath & Beyond name after it acquired intellectual property from the bankrupt company in June.
Reporting by Juby Babu in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons:
Jonathan Johnson, Johnson, Dave Nielsen, John Thaler, Marcus Lemonis, Beyond's, Juby Babu, Maju Samuel
Organizations:
Beyond Inc, JAT, Bed, Thomson
Locations:
Bengaluru