by Jonathan Johnson steps down as chief executive officer, President David Nielsen named interim CEO
MIDVALE, Utah — Beyond Inc., formerly Overstock.com Inc. which now operates as Bed Bath & Beyond, said that Jonathan Johnson has stepped down as chief executive officer and as a member of the board of directors, effective immediately. The company said his departure follows a mutual agreement between both parties to transition the company to new leadership. The board has begun an internal and external search process to identify a permanent replacement.
During this process, company President David Nielsen has been appointed to an expanded role as interim chief executive officer. Serving in both capacities, he will lead the company as it moves into the future operating as the new Bed Bath & Beyond.
Adrianne Lee, chief financial officer, will expand her responsibilities to oversee legal and human resources functions in addition to the finance organization.
“Following the recent acquisition of the Bed Bath & Beyond brand and our corporate renaming as Beyond Inc., the board and Jonathan determined that this is the ideal time for a transition in leadership to guide the company forward,” said Allison H. Abraham, board chair. “Jonathan has been integral to the company’s successful evolution over more than two decades of service. We thank him for his leadership, foresight and immense contributions that helped build the company into the leading online furniture and home furnishings retailer that it is today and is now poised to capture greater opportunities in the future.”
“I am incredibly proud of all that we have achieved to transform the company since becoming CEO — evolving to a leading online home retailer with an iconic name and a large, growing consumer base,” said Johnson, a 21-year company veteran. “As the company turns the page to become Beyond, now is the right time for me to also turn the page to the next chapter in my career. It has been an honor to work with such an exceptional team. I am confident the company is well positioned to achieve broader popular reach as a bigger and better Beyond.”
Dave Nielsen has served as Beyond’s president since 2019, leading the company’s marketing, algorithms, customer, digital, technology, and sourcing and operations organizations. Before this, he was Overstock’s chief sourcing and operations officer, responsible in that role for overseeing the sourcing, merchandising, partner and category management and supply chain teams for the company.
Previously, Nielsen had spent six years with Overstock, rising to co-president and leading the company’s marketing, merchandising, and supply chain operations. He left Overstock to become CEO at Global Access, a global provider of logistics technology and cross border expertise for brands looking to provide a consistent and trusted shopping experience to both domestic and international customers.
Nielsen also held leadership positions with Payless ShoeSource Inc., including vice president of merchandise allocation, responsible for the planning and allocation of merchandise across 4,500 stores in the U.S., Canada and Puerto Rico. Additionally, Nielsen served as president and chief executive officer of Old Town Imports LLC, where he created a development, sourcing and omnichannel product supply chain organization for clients such as Costco, Target and regional restaurant and catering companies.
Abraham said, “The board is confident that Dave is the right person to advance the company’s transformation through this interim period. He is currently responsible for key functions across the organization and will continue to lead our ongoing strategic initiatives in addition to new ones. We also look forward to Adrianne taking on greater administrative responsibilities along with her role as chief financial officer. 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.”
As announced on Oct. 24, the change in the company’s corporate name from Overstock.com Inc. to Beyond Inc. was effective Monday, Nov. 6. Along with the corporate name change, the company has transferred its stock listing from the Nasdaq Global Market (NASDAQ) to the New York Stock Exchange (NYSE) and changed its ticker symbol from OSTK to BYON.
