Overstock.com Recommends Mitch Edwards To Be Acting CEO As He Proceeds On Medical Leave

Overstock.com, Inc.

disclosed, in a statement, that its CEO, Patrick Byme, has recommended its board to name Mitch Edwards as the acting CEO. The move became necessary after the CEO took a medical leave and that it was not know when he would be returning to his work. Overstock.com CEO wrote a letter to the shareholders stating that "I must take an indefinite medical leave of absence. The proximate cause is that for over a year I have been gutting it out through a Stage IV diagnosis of Hepatitis C, contracted (to save awkward questions) in 1984 in Xinjiang when a barefoot doctor sewed up a head wound under less-than-ideal conditions. I have finished treatment and think I have it beat but only time will tell." Byme said that "Your firm is doing and will do well: I believe that in 2016 we will make $40 million GAAP Net Income (pre-tax) excluding net effect of blockchain efforts and the risk of declared recession." He added that "Mitch is an outstanding full-spectrum entrepreneur who has serving as our general counsel for six months and has learned our business, and understands our t0 efforts to revolutionize the capital markets." On Friday, the stock ended with 0.21% gain.