Role At Overstock.com
Byrne's son Patrick M. Byrne bought a 60% interest in the Internet retailer D2: Discounts Direct, changing its name to Overstock.com. The elder Byrne served as an Overstock.com director from October 1999 until October 2002, and then rejoined the board in June 2004. He was elected chairman in October 2005.
In March 2006, the elder Byrne said that he was thinking of stepping down in disagreement over his son's campaign against naked short selling, which he said was distracting his son from leading the company. In April 2006, John Byrne stepped down to become vice-chairman, and was replaced by Patrick Byrne. In July 2006, John Byrne resigned from Overstock's board of directors. In August 2008, Jack Byrne said that after "much initial skepticism" he believed his son was "right all along" about the battle and lawsuits with short-sellers and analysts. He was reelected to the board on May 12, 2010.
Read more about this topic: John J. Byrne
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