The Board of Directors of Overstock.com, Inc. (NASDAQ:OSTK)
appointed Dr. Robert Shapiro, PhD. to the board as of February 17,
2020. Shapiro is the chairman and founder of Sonecon, LLC, a firm
advising businesses, governments and non-profit organizations on
economic and security-related matters. He also has been, and
remains, a member of the boards of directors of Medici Ventures,
Overstock’s wholly owned blockchain accelerator, and Medici Land
Governance.
“Rob is a fantastic addition to the Overstock board,” said
Overstock Chairwoman of the Board Allison Abraham. “He brings a
wealth of experience in both the private and public sectors at a
critical point in the evolution of our company. I am confident that
all areas of our business will benefit from his involvement.”
“Rob is a natural choice to represent our shareholders,” said
Overstock CEO and board member Jonathan Johnson. “For three years,
he has provided valuable insights to Medici Ventures as it has
built its blockchain businesses. I’m confident he will bring
similar value to Overstock.”
“I’m excited to become a member of the board,” said Shapiro. “I
have been associated with Overstock and have worked with Jonathan
since 2004. I look forward to working with the Overstock board as
the company continues to lead the way in both retail and blockchain
technology.”
Dr. Shapiro replaces the company’s former director Dr. Kamelia
Aryafar, PhD., who has resigned from her seat on the board and her
executive role with the company. Aryafar’s executive duties have
been absorbed by other members of Overstock’s leadership.
“Kamelia helped us advance important machine learning and
artificial intelligence technology during her time at Overstock. We
are grateful for her contributions,” said Johnson.
“Overstock has built some spectacular technology,” said Aryafar.
“I’m pleased to have led the outstanding ML and AI efforts at
Overstock. Its well-established technology roadmap ensures future
success for the company.”
About Robert Shapiro
Robert Shapiro is the chairman and founder of Sonecon, LLC, a
private firm that advises U.S. and foreign businesses, governments
and non-profit organizations on economic and security-related
matters. Dr. Shapiro has advised, among others, U.S. President Bill
Clinton, British Prime Minister Tony Blair, Vice President Al Gore,
Jr., U.K. Foreign Minister David Miliband, Secretary of State
Hillary Clinton, Treasury Secretaries Robert Rubin and Timothy
Geithner, and many senior members of the Obama administration, the
U.S. Senate and the House of Representatives. He and Sonecon also
have advised senior officials of the Departments of Defense and
Energy; senior executives at private firms including AT&T,
Elliot Management, Exxon-Mobil, Gilead Sciences; and Google, and
non-profit organizations including the International Monetary Fund,
the Johns Hopkins University Applied Physics Laboratory, the U.S.
Chamber of Commerce, and the Center for American Progress.
Dr. Shapiro is also a Senior Fellow of the Georgetown University
Center for Business and Public Policy, director of the NDN Center
on Globalization, chief strategist for Brand Transact, and a member
of the board of directors of Medici Ventures, and the advisory
boards of Gilead Science and Cote Capital. From 1997 to 2001, he
was U.S. Under Secretary of Commerce for Economic Affairs. Prior to
that, he was co-founder and Vice President of the Progressive
Policy Institute and, before that, the Legislative Director and
Economic Counsel to Senator Daniel P. Moynihan.
Dr. Shapiro also served as the principal economic advisor to
Bill Clinton in his 1991-1992 presidential campaign, and as a
senior economic advisor to Hillary Rodham Clinton in 2016 and,
before that, to the presidential campaigns of Barack Obama, John
Kerry and Al Gore, Jr. Dr. Shapiro has been a Fellow of Harvard
University, the Brookings Institution, the National Bureau of
Economic Research, and the Fugitsu Institute. He holds a Ph.D. and
M.A. from Harvard University, a M.Sc. from the London School of
Economics and Political Science, and an A.B. from the University of
Chicago.
About Overstock Overstock.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 nearly 40
million 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 of 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 regarding the company’s 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 Form 10-Q for the quarter
ended September 30, 2019, which was filed with
the SEC on November 12, 2019, and any subsequent
filings with the SEC.
SOURCE: Overstock.com, Inc.
Media Contact:pr@overstock.com
Investor Contact:ir@overstock.com
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