Overstock CEO Patrick Byrne announced today that he will take a medical leave of absence from the online retail giant.
Revealed in a letter to shareholders, the move comes as the online retailer moves ahead with plans to launch a blockchain-powered securities exchange, dubbed tØ.
Byrne said in the letter that treatment related to a diagnosis of hepatitis C, an infectious disease that targets the liver, is the primary driver behind the "indefinite" leave.
Byrne has recommended that Overstock special counsel and senior vice president Mitch Edwards serve as acting chief executive.
In the letter, Byrne suggested that Edwards would be well-suited to continue spearheading the firm's blockchain efforts, stating:
Image via Overstock
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