Overstock Appoints William Nettles to its Board of Directors
June 15 2020 - 8:30AM
The Board of Directors of Overstock.com, Inc.
(NASDAQ:OSTK) appointed William Nettles as a new independent
director as of June 12, 2020. Nettles is a co-founder and managing
partner of Invictus Growth Partners, a private equity firm located
in San Francisco, CA that invests in and advises automation-enabled
technology companies. He has more than 25 years’ experience in
technology, investing and corporate finance as a founder, as a
senior level corporate executive at Verifone, Lycos and Sungevity,
and in investment banking at Credit Suisse.
“We welcome William to the Overstock board,” said Overstock
Chairwoman of the Board Allison Abraham. “He has significant
expertise and experience in strategy, corporate development and
investor relations. As a new board member, he will be able to help
guide Overstock in all of these areas.”
“I’m excited to have William join the Overstock team,” said
Overstock CEO and Board Member Jonathan Johnson. “For the past
several months, we’ve been thoughtful as we’ve looked to expand our
board. We found the right person in William. He will be a real
asset to the board, bringing additional capital markets and
technology investment expertise. He will represent our shareholders
well.”
“I am really excited to join the Overstock board. Overstock is a
proven leader in its industry and a company with lots of promise,
both in its ecommerce business and its several blockchain start-up
companies,” said Nettles. “As I’ve met with each of the board
members there has been a real chemistry and enthusiasm. I’m ready
to help Overstock continue its growth.”
With the addition of Nettles, the Overstock board now has six
members, five of whom are independent.
About William Nettles
William Nettles is a Co-Founder and Managing Partner of Invictus
Growth Partners. Previously, William was the Executive Vice
President of Sungevity, based in Oakland, CA, where he led the
company out of bankruptcy and turned it around into a profitable
business in less than a year. Before this, he was the Director of
Investments at Pan African Investments (PIC), a New York City-based
private investment firm, whose mission was to make an impact in
Africa by identifying and investing in technology companies that
promote growth and development in the region.
Prior to PIC, William worked at VeriFone for over ten years
where he initially served as VP and Head of Corporate Development
and Investor Relations and later as the GM of the Middle East and
Africa. He was a Corporate Development executive at Lycos prior to
this and helped lead the successful sale of Lycos to Terra
Networks. William began his career at Credit Suisse, where he was
an investment banker, focused on mergers, acquisitions, equity and
debt financings.
William is also a Founder and on the Board of Directors of
Advanced Mobile Payments, a payment technology solutions company
located in Newport Beach, CA,
William is an active mentor with the Sponsors for Education
Opportunities career program, a non-profit organization that
provides underrepresented minorities with access to internship
opportunities on Wall Street.
William is a graduate of the University of California at
Berkeley where he holds a B.S. in Business Administration.
About OverstockOverstock.com, Inc Common
Shares (NASDAQ:OSTK) / Digital Voting Series A-1 Preferred Stock
(Medici Ventures’ tZERO platform:OSTKO) / Series B Preferred
(OTCQX:OSTBP) is an online retailer and technology company
based in Salt Lake City, Utah. Its leading e-commerce website
sells a broad range of new home products at low prices, including
furniture, décor, rugs, bedding, home improvement, and more. The
online shopping site, which is visited by tens of millions of
customers a month, also features a marketplace providing customers
access to millions of products from third-party sellers. Overstock
was the first major retailer to accept cryptocurrency in 2014, and
in the same year founded Medici Ventures, its wholly owned
subsidiary dedicated to the development and acceleration of
blockchain technologies to democratize capital, eliminate
middlemen, and re-humanize commerce. Overstock regularly posts
information about the Company and other related matters on
the Newsroom and Investor Relations pages on
its website, Overstock.com.
O, Overstock.com, O.com, Club O, Main Street
Revolution, and Worldstock are registered
trademarks of Overstock.com, Inc. Other service
marks, trademarks and trade names which may be referred to
herein are the property of their respective owners.
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include all statements other than
statements of historical fact, including but not limited to
statements about the company’s board of directors and other members
of leadership. Additional information regarding factors that could
materially affect results and the accuracy of the forward-looking
statements contained herein may be found in the Company's Annual
Report on Form 10-K for the fiscal year ended December 31,
2019, which was filed with the SEC on March 13,
2020, in our Form 10-Q for the quarter ended March 31, 2020, which
was filed with the SEC on May 7, 2020, and in our subsequent
filings with the SEC.
SOURCE: Overstock.com, Inc.
ContactsInvestor Relations:Alexis
Callahan801-947-5126ir@overstock.com |
Media:Overstock Media
Relations801-947-3564pr@overstock.com |
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/506a3727-d56b-4dd6-87f5-dd4867ce022b
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