Overstock’s New CEO To Stay Focused on Medici Ventures Blockchain Accelerator


Overstock, a giant of the retail market, has recently appointed Jonathan Johnson as the permanent new CEO. He was the temporary CEO of Overstock after Patrick Byrne left and will now continue in this position.

According to Coindesk, which reported on this story, Johnson was appointed by Overstock’s board and served as the interim CEO for around a month before consolidating his position. He had to take the reigns of the company as Byrne stepped down for having an affair with a Russian spy called Maria Butina. The scandal made the former CEO resign and Johnson has been in charge since then.

Today, Johnson made his first speech in the official position and talked about the blockchain business of the company. Johnson is also the head of Overstock’s Medici Ventures, which is a famous blockchain accelerator.

According to him, there are two unique businesses in the company. He knows how to “unlock the value” of each business and how to make it profitable. The blockchain sector of the company will continue as expected and to create real products.

He also affirmed that the company is confident in the ability to grow in both sectors of the company and that all the current “recent headwinds” would be solved.

The so-called headwinds of the company were mostly related to Byrne leaving the company. Before he did it, though, he tried to stymie short sellers that were targetting the company and created a controversial way to pay the dividends. This has been causing the company some headaches recently.

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