The outspoken CEO of on-line residence items retailer Overstock.com resigned Thursday, days after he issued a press release entitled “Comments on Deep State” that claimed he helped the FBI perform “political espionage.
“The unusual publish from longtime Overstock chief Patrick Byrne triggered a steep decline in Overstock’s inventory value final week. The firm’s inventory value later recovered, and it surged greater than 10% Thursday on information of Byrne’s exit.
In a letter Byrne issued Thursday, he acknowledged that he’s “already far too controversial to serve as CEO” and selected to step away after 20 years in order that his presence would not have an effect on Overstock’s enterprise.
Byrne had stated in an August 12 press launch that he helped the FBI’s “‘Clinton Investigation’ and the ‘Russian Investigation'” — “operating under the belief that I was helping legitimate law enforcement efforts.”
He additionally claimed he “put the pieces” collectively in mid-2018 and realized the investigations amounted to “political espionage” towards the 2016 US presidential candidates.
Byrne stated he determined to talk to journalists about his involvement this summer time after discussing it along with his rabbi.”Coming forward publicly about my involvement in other matters was hardly my first choice,”
Byrne wrote within the letter about his resignation. “I now plan on leaving issues to the esteemed Department of Justice (which I have likely already angered sufficient by going public) and disappearing for a while.