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Beyond, Inc. eliminates co-CEO roles in leadership shakeup

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Beyond, Inc.
Beyond, Inc. has announced major leadership changes.

Beyond, Inc. has announced major changes to its leadership structure.

The parent company of Bed, Bath & Beyond, Overstock and Zulily announced it has eliminated its co-chief executive roles, eliminated its dual chief merchant roles, and expanded the role of its executive chairman.

Given the structure change, Chandra Holt has departed the company after being named CEO of Bed Bath & Beyond in February. Dave Nielsen, who served as CEO of Overstock, has been appointed as president, overseeing the marketing, merchandising and supply chain functions for Beyond. Adrianne Lee will continue in her role as chief financial and administrative officer, and Marcus Lemonis will continue in his increasingly active role as executive chairman. 

The marketing and merchandising leadership functions have been streamlined across all three brands.

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“As a company, we are intent on achieving profitability,” said Lemonis, who joined the company last November. “We believe margin improvement, SG&A reduction, efficiency and alignment are the key factors that will get us there, and we are therefore streamlining and flattening our organization to reflect what we believe will yield greater efficiencies and better results. I’m pleased with the sequential progress we are making and clearly see the path to our goal.”

In its most recent financial quarter, Beyond, Inc. reported a net loss of $72.2 million compared to a net loss of $10.3 million in the year-ago quarter. Revenue inched up 0.3% to $382 million, missing analysts’ estimates of $389 million. Orders delivered increased 27% year-over-year to 2.2 million. Active customers increased 26% to 6.0 million.

During the first quarter, Beyond successfully soft launched Overstock six months ahead of schedule and brought on Salesforce to launch a CRM platform and manage its customer journeys and record. It also acquired online retailer Zulily, which ended operations at the end of 2023, and plans to relaunch the site later this year. 

Beyond owns a suite of online properties that include Overstock, Bed Bath & Beyond, Baby & Beyond, Zulily and other related brands and associated intellectual properties.

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