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Overstock founder returns as CEO


SALT LAKE CITY — founder Patrick M. Byrne has returned as CEO of online discount retailer.

Byrne took a medical leave of absence in February to address cardiac issues thought to be associated with cancer treatments received much earlier in his life.

"It was good to get away, take some time off and attend to some things that needed looking after, but it's great to be back, and I look forward to serving our shareholders once more,” said Byrne. “I wish to extend my gratitude to Jonathan, who has done a fine job in my absence, and in my view is ready to start providing direction at a board level, while retaining executive responsibilities for a large section of the company."

During his leave, Byrne retained his position as chairman, but appointed Jonathan Johnson, formerly president, as acting CEO. Recently, Johnson was nominated to stand for election to the board of directors at the company's annual stockholders' meeting in May. The company's proxy materials note that if Johnson is elected, the board intends to appoint him as executive vice chairman of the board.

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