Jonathan Johnson

Patrick Byrne has relinquished his role as chairman of and Stormy Simon was named president of the online discount retailer. Byrne will continue to serve as CEO while current executive vice chairman Jonathan Johnson assumes the chairman responsibilities Byrne has held since 2006. Johnson's prior responsibilities as corporate secretary will be assumed by Mark Griffin, who serves as senior vice president and general counsel. Simon, who previously served as co-president of the company, was named president and retains her seat on the board, while David Nielsen will continue in his role as co-president., Inc. today announced that its CEO and Chairman of the Board Dr. Patrick Byrne will be taking a personal leave of absence for medical reasons. President Jonathan Johnson will serve... announced that it will offer sitewide free shipping through Dec. 25. "Our mission is to save people money," said President Jonathan Johnson. "Offering free shipping during the holiday season is another way we help our customers save money on our already low priced products." launched the iPad application, available on iTunes. The company said its new mobile app carries the same product selection that is available on the website, and it allows customers to easily share deals with their friends through Facebook and Twitter. Customers will be able to filter their search results on the iPad app by top sellers, review ratings, price and new arrivals, and the app includes features such as pinch zoom, swipe left/right and up/down and infinite scroll. In other news, President Jonathan Johnson told Advertising Age magazine that it is stepping back from the

In a post-earnings conference call with investors last week, founder and CEO Patrick Byrne addressed the recent closure of the online auction marketplace, saying Overstock's mantra is the savings engine, and that there was no way to make auctions come cheaper for the consumer. Despite the fact that Byrne said Overstock Auctions had sent many new customers to the main site where they shopped - he estimated it was on the order of $250 million over the years - the company closed the auction site in mid-July. reported revenue was up 2% in the second quarter year-over-year

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