Overstock.com, Inc. (NASDAQ:OSTK) announces Dave Nielsen’s
appointment to President of Overstock.com’s retail business, a
position that was recently held by Overstock CEO and founder
Patrick M. Byrne. As a result, Nielsen will transition his role as
Chief Sourcing and Operations Officer to Ron Hilton, former Vice
President of Sourcing. Theses changes are effective
immediately.
“Dave has been a star contributor to our firm. I know him to be
a first-rate professional, and he is highly regarded,” said Byrne.
“These promotions mark the completion of a redesign of our
executive structure: the result of the process is a highly skilled,
competent, and cohesive Retail executive team, of which Dave is now
the leader.”
“I’m honored to be named President of Overstock’s Retail
Division and to continue working with a terrific team of
executives,” said Nielsen. “Patrick has assembled some of the best
talent the industry has to offer in the fields of Artificial
Intelligence, Digital Marketing, Digital Product Technology,
Strategy, and Sourcing and Operations. The impressive turnaround
work from all of my colleagues over the past six months is evidence
of Overstock’s enterprise-wide talent, dedication, and hard work.
We are focused on our customer, and the future is bright!”
Dave Nielsen, President, Retail
Dave Nielsen is Overstock’s Retail President, leading the
company’s marketing, algorithms, customer, digital, technology,
sourcing and operations organizations. Prior to this role, Nielsen
served as Overstock’s Chief Sourcing and Operations Officer, where
he was responsible for overseeing the sourcing, merchandising,
partner management, and supply chain teams for the company. Before
leaving Overstock to assume the role of CEO at Global Access,
Nielsen spent six years with Overstock, rising to the position of
co-president and leading the company’s marketing, merchandising,
and supply chain operations.
Nielsen also held leadership roles with Payless ShoeSource, Inc.
and Old Town Imports, LLC. He received his bachelor’s Degree in
Business Management with an emphasis in Marketing from Brigham
Young University.
Ron Hilton, Chief Sourcing and Operations
Officer
Ron Hilton is Overstock’s Chief Sourcing and Operations Officer,
responsible for overseeing the sourcing, merchandising, partner and
category management, and supply chain teams for the global online
home goods leader. Hilton joined Overstock in 2009 as the home and
garden merchandising manager and has held several leadership roles
in the merchandising organization since. He left Overstock in 2015
to assume the role of president at Endygo, a global sales and
logistics firm specializing in e-commerce and drop-shipping
delivery and returned to Overstock in 2016 assuming the role of
Vice President of Sourcing. Prior to working at Overstock, Hilton
was Vice President of Marketing for Furniture Warehouse.
Board of Directors Updates
In addition to the changes in Overstock’s retail management,
there are adjustments to Overstock’s Board of Directors. Kirthi
Kalyanam served out the end of his three-year commitment to the
Board of Directors and will now fully devote his time to the
completion of a book on retailing. Saum Noursalehi is also stepping
down from the Overstock Board to take a position on the tZERO Board
of Directors, maintaining his role as CEO of tZERO. There are no
immediate plans to fill these positions.
“We appreciate all that Kirthi and Saum have contributed to
growing the retail business and their valuable insights will be
missed,” Byrne concluded.
The tZERO Board was also reconstituted with the following
Directors: Jonathan Johnson, Chairman; Saum Noursalehi; Chris
Campbell; and Bruce Fenton.
Additional details will be shared on Overstock’s Q1 Earnings
Call which can be viewed here: LINK
About Overstock.com
Overstock.com, Inc Common Shares (NASDAQ:OSTK) / Series A
Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B
Preferred (OTCQX:OSTBP) is an online retailer and technology
company based in Salt Lake City, Utah. Its leading e-commerce
website sells a broad range of new products at low prices,
including furniture, décor, rugs, bedding, home improvement, and
more. The online shopping site, which is visited by nearly 40
million customers a month, also features a marketplace providing
customers access to millions of products from third-party sellers.
Overstock was the first major retailer to accept cryptocurrency in
2014, and in the same year founded Medici Ventures, its
wholly-owned subsidiary developing and accelerating blockchain
technologies to democratize capital, eliminate middlemen, and
re-humanize commerce. Overstock regularly posts information about
the company and other related matters on the Newsroom and Investor
Relations pages on its website, Overstock.com.
O, Overstock.com, O.com, Club O, Main Street
Revolution, and Worldstock are registered trademarks of
Overstock.com, Inc. O.biz and Space Shift are also
trademarks of Overstock.com, Inc. Other service marks, trademarks
and trade names which may be referred to herein are the
property of their respective owners.
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include all statements other than
statements of historical fact. Additional information regarding
factors that could materially affect results and the accuracy of
the forward-looking statements contained herein may be found in the
Company's Form 10-Q for the quarter ended March 31, 2018, which was
filed with the SEC on May 9, 2019, and any subsequent filings with
the SEC.
SOURCE: Overstock.com, Inc.
Media Contact:pr@overstock.com
Investor Contact:ir@overstock.com
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