Overstock CEO resigns days after sharing statement regarding ‘Russian investigation’

SALT LAKE CITY — Overstock CEO Patrick M. Byrne has resigned, according to a letter he wrote to shareholders that was released by Nasdaq on Thursday.

The news comes after Byrne released a statement last week in which he said he assisted in the “Russian investigation” starting in 2015. Shares for Utah-based Overstock took a dive after Byrne released the statement last week.

“(While) I believe that I did what was necessary for the good of the country, for the good of the firm, I am in the sad position of having to sever ties with Overstock,” Byrne said Thursday.

This story will be updated shortly.

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