Overstock.com President Stormy Simon to Resign
Overstock.com announced Friday that Stormy Simon will be resigning as the company’s president to pursue other opportunities, effective no later than July 25. Simon will remain a member of Overstock.com’s board of directors until no later than Sept. 30. Her duties will be divided amongst Acting CEO Mitch Edwards, Chief Revenue Officer Saum Noursalehi, and Senior Vice President Brian Popelka.
Total Retail's Take: This comes as a bit of surprise, as things seemed to be on the upswing at Overstock. In its most recent earnings release, revenue and gross profit were up 4 percent and 2 percent, respectively. And when I interviewed her last fall for our Retailer of the Year cover story, Simon seem tremendously excited about Overstock's future. Then again, should any of us really be surprised when a retail executive moves on in this fast-evolving industry? Perhaps not.