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Midvale-based Overstock.com has elevated Allison Abraham to chairwoman of its board.
A trustee since 2002, Abraham has been chairwoman of the board's audit committee and is a member of two other committees. She is founder and president of The Newton School, a nonprofit elementary school in Sterling, Va., and previously owned her own consulting, online marketing and online media companies.
She replaces Jonathan Johnson, chairman since 2014, who will remain on the board and continue as president of Medici Ventures, a technology subsidiary of the online retailer. Medici oversees a portfolio of blockchain technology and fintech businesses.
In a news release Wednesday, Overstock CEO and founder Patrick Byrne praised Johnson's "steady hand" and said he was grateful Johnson can turn more attention to Medici as it "is demanding more and more of his efforts."
Abraham, Byrne added, "has long been a strong voice in guiding Overstock in her role as a director from our earliest days" and is the "perfect choice" to lead the company as it continues "to set the standard for profitable and sustainable ecommerce growth."
Overstock President Saum Noursalehi also was elected to the board, joining Byrne, Barclay Corbus, Kirthi Kalyanam and Joseph J. Tabacco, Jr.
Noursalehi became Overstock's president last year. He joined the company in 2005, has overseen marketing and product development and was chief revenue officer.
Mike Gorrell