Overstock.com Names Gregory J. Iverson as Chief Financial Officer
April 06 2018 - 6:30AM
Overstock.com, Inc. (NASDAQ:OSTK), a leading online retailer and
advancer of blockchain technology, has named Gregory J.
Iverson as its new Chief Financial Officer (CFO). Iverson
previously served as Chief Financial Officer for Apollo Education
Group, Inc. (AEG), a global private-sector education company, where
he had been employed in roles with increasing responsibility since
2007.
“We are pleased to announce Greg Iverson as our new CFO,” said
Overstock.com CEO Patrick M. Byrne. “Greg comes to us with great
experience handling complex financial matters, and joins the
Overstock team at a time when the opportunities for the future of
our business will greatly benefit from his knowledge and
experience.”
Iverson was instrumental in the acquisition of AEG by Apollo
Global Management, LLC and The Vistria Group, LLC in February 2017,
in which the company was also taken private in a $1.1B transaction.
Additionally, Iverson brings more than 20 years of financial,
operational, and merger, acquisition and divestiture experience and
is a Certified Public Accountant.
Iverson, who will join Overstock on April 16, 2018, is replacing
Robert Hughes, who is retiring from his current role with
Overstock.com in order to become CFO of DeSoto Inc. DeSoto, Inc. is
the recently-announced joint venture between Byrne, Medici
Ventures, Inc., and famed Peruvian economist Hernando de Soto that
plans to utilize blockchain and other technology to develop a
property registry system to surface the property rights of billions
of people in the developing world.
“I want to make a statement of deep appreciation to Rob Hughes
for his many years of exemplary service,” said Byrne. “His
incredible dedication, commitment, and fastidious precision will
live on in the organization he has built. I am also extremely
grateful he has agreed to stay with us in support of DeSoto, Inc.
as we work to re-democratize capital and fight global poverty
through blockchain-based land and property rights reform.”
About Overstock.com
Overstock.com Common Shares (NASDAQ:OSTK) / Series A Preferred
(Medici Ventures’ tZERO platform:OSTKP) / Series B Preferred
(OTCQX:OSTBP) is an online retailer based in Salt Lake City, Utah
that sells a broad range of products at low prices, including
furniture, décor, rugs, bedding, and home improvement. In addition
to home goods, Overstock.com offers a variety of products including
jewelry, electronics, apparel, and more, as well as a marketplace
providing customers access to hundreds of thousands of products
from third-party sellers. Additional stores include Pet Adoptions
and Worldstock.com dedicated to selling artisan-crafted products
from around the world. Forbes ranked Overstock in its list of the
Top 100 Most Trustworthy Companies in 2014. Overstock regularly
posts information about the company and other related matters under
Investor Relations on its website, http://www.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-K for the year ended December 31, 2017, which was
filed with the SEC on March 15, 2018, and any subsequent filings
with the SEC.
Media Contact:pr@overstock.com
Investor Contact:ir@overstock.com
SOURCE: Overstock.com, Inc.
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