Marcus Lemonis Appointed Executive Chairman of Beyond, Inc.
February 20 2024 - 7:30AM
Beyond, Inc. (NYSE: BYON), owner of Bed Bath & Beyond,
Overstock.com, and other online retail brands designed to unlock
your home’s potential, today announced that on February 16, 2024,
it appointed Marcus Lemonis as Executive Chairman of the board of
directors, effective today. Lemonis has been a director of Beyond
since October 2023 and the Chairman of its board since December
2023. As Executive Chairman, Lemonis will work closely with the
management team to lead and execute Beyond's strategic priorities,
including expanding customer offerings, driving operational
excellence, and enhancing shareholder value.
“We look forward to continuing to work with Marcus in his new
role as Executive Chairman of the board,” said William Nettles,
Independent Board Member and Chair of the Audit Committee. “His
extensive experience and strategic insight have been instrumental
in evolving our company since he joined the board. We are confident
that his leadership will position us for the next phase of growth
to deliver value to our employees, customers, and shareholders
through what we anticipate will be an exciting blend of new brands
and services.”
With more than 25 years of experience in business development
and retail growth, Lemonis brings broad expertise in growing and
scaling companies from the inside out. He is currently the Chairman
and Chief Executive Officer of Camping World Holdings, Inc.,
responsible for growing both Camping World and its sister
membership and services company Good Sam from the ground up to
become the World’s Largest RV and outdoor retail affinity group.
He’s well-known for his business acumen highlighted on CNBC’s The
Profit where he famously advised small businesses to focus on their
people, process, and products to achieve stability and
profitability. Lemonis also helps homeowners improve the value and
function of their homes on his hit TV show, The Renovator.
“I am honored to be taking on the role as Executive Chairman of
the Beyond Board of Directors,” said Lemonis. “I’ve enjoyed getting
to know the talented team at Beyond over the past several months
and I look forward to working with them more closely to capitalize
on growth opportunities and set us up for the future.”
In connection with Lemonis’s service as Executive Chairman, he
will receive no salary or guaranteed equity. Rather, his
compensation will be comprised entirely of performance-based stock
options with rigorous stock price hurdles to clearly align his
compensation with the creation of meaningful, long-term stockholder
value above the trading price of Beyond’s common stock when Lemonis
joined the Board.
About BeyondBeyond, Inc. (NYSE:BYON), based in
Midvale, Utah, is an ecommerce expert with a singular focus:
connecting consumers with products they love. The Company owns the
Bed Bath & Beyond brand and associated intellectual property.
Bed Bath & Beyond is an online furniture and home furnishings
retailer in the United States and Canada. The leading ecommerce
website sells a broad range of quality, on-trend home products at
competitive prices, including furniture, bedding and bath, patio
and outdoor, area rugs, tabletop and cookware, décor, storage and
organization, small appliances, home improvement, and more. The
online shopping site features millions of products that tens of
millions of customers visit each month. Beyond regularly posts
information about the Company and other related matters on the
Newsroom and Investor Relations pages on its website.
Beyond, Bed Bath & Beyond, Welcome Rewards, Overstock and
Overstock Government are trademarks of Beyond, Inc. Other service
marks, trademarks and trade names which may be referred to herein
are the property of their respective owners.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains 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 our future performance and the achievement of
performance targets. 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, 2022, filed with the SEC on February 24, 2023, as
updated by the Form 10-Q for the quarter ended September 30, 2023,
filed with the SEC on October 31, 2023, and in our subsequent
filings with the SEC.
Beyond, Inc. Media Relations:Sarah
Factorpr@beyond.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0378588a-55fd-4a8a-8001-88347d523519
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