Overstock CEO returns to post after medical leave

Overstock CEO Byrne returns to post after taking a medical leave of absence

Associated Press

SALT LAKE CITY (AP) -- Overstock.com's CEO and founder, Patrick Byrne, has returned to work after taking a medical leave of absence, the online discount retailer said Monday.

The company said that Byrne was taking a medical leave of absence in February. At that time Overstock.com Inc. said that Jonathan Johnson, its president, would serve as acting CEO while Byrne was away.

The Salt Lake City company said that Byrne's departure was related to cardiac problems that might have stemmed from earlier brushes with cancer. He has had procedures in recent years for the cardiac problems.

On Monday, Overstock.com said that Byrne has resumed his CEO duties. Byrne remained chairman during his medical leave.

Overstock.com said that Johnson is up for a seat on its board. If elected during its annual shareholders meeting in May, the company said that the board plans to name Johnson as executive vice chairman.

The company's shares slipped 6 cents to $12.70 in morning trading, as the broader markets fell. The stock is down more than 11 percent since the start of the year.

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