Overstock.com CEO Patrick Byrne resigned as retailer on Thursday after last week's speech on the "deep state" and his involvement in various investigations. He also told The New York Times that he had an affair with convicted Russian agency Maria Butina .
In a letter sent Thursday to shareholders, Byrne said he had no choice but to resign after commenting. "My presence can influence and complicate any type of business relationship, from volatility to strategic discussions about our retail business," he said. "Thus, while I believe that I have done everything necessary for the good of the country, for the good of the company, I am in the sad position of having to break ties with Overstock, as CEO and board member, effective Thursday August 22 . "
Overstock.com has stated that board member Jonathan E. Johnson III will step in as interim executive director.
Byrne's statement raised his eyebrows last week, claiming that the executive assisted federal investigators in "The Clinton Inquiry" and "Rusk "Investigation," a seeming reference to the FBI's study of Russia's meddling in the 201
Overstock's shares soared, after the company said Byrne resigned In early afternoon trading, the shares were over 9%.
AP
Overstock and Maria Butina Executive Director
Byrne told The New York Times that she met Butina at a 2015 Libertarian Conference, which was sentenced to 18 months in prison on conspiracy charges in April for penetration of US political groups The two later began a three-year relationship. In a statement last week, Byrne did not mention Butina, but said he had assisted the FBI in several investigations, calling them "Men in Black."
"This was the third time in my life that I had helped men in black: the first was when my friend Brian Williams was killed and the second was when I helped MIB shake down Wall Street a decade ago," he wrote, links to a 2008 article on government and corporate media control by which Byrne invented.
"Unfortunately, this third time proved less about law enforcement and more about political espionage conducted against Hillary Clinton and Donald Trump (and to a lesser extent Marco Rubio and Ted Cruz)."
In his letter to shareholders, Byrne said that "going forward" about his concerns and involvement was "hardly my first choice. But for three years I have watched my country divide, knowing many answers and asking myself the red line when I see an outbreak of civil violence. "
He excluded the letter by encouraging shareholders:" And don't forget to shop Overstock.com! "
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