Beyond, Inc., in another major organizational change, announced its board of directors appointed executive chairman Marcus Lemonis to serve as principal executive officer. The company board also appointed Adrianne Lee President CFO while noting former Beyond President Dave Nielsen had left the company.
According to a filing with the United States Securities and Exchange commission, Beyond terminated Nielsen’s employment on March 8, and it was negotiating with him about severance and associated considerations.
In October 2023, Lemonis joined as a director of what was then Overstock and was transitioning to Beyond at a time when the company was reorganizing after having acquired the intellectual property of Bed Bath & Beyond. He was appointed chairman of the Beyond board in December 2023, and he assumed the role of executive chairman in February 2024. He remains executive chairman. Lee had been Beyond’s chief financial and administrative officer until taking over the president role on March 8.
The most recent Beyond executive reorganization also includes the appointment of Leah Putnam, former vice president of finance and controller, as chief accounting officer; and Alexander Thomas, former senior vice president of finance and corporate development, as COO.
In announcing the executive changes, Lemonis said, “The last year has been about identifying Beyond’s strategic priorities of delivering significant improvement in the key metrics of Adjusted EBITDA, gross margin and reduced fixed costs as well as unlocking the value of our blockchain investments. We are committed to making money and returning this business to growth and will not let any obstacles deter that goal. This leadership team is best suited to carry out our mandate of delivering profitable commerce.”
