Overstock.com Names Gregory J. Iverson As CFObr>
Overstock.com, Inc. has named Gregory J. Iverson as its new chief financial officer (CFO). Iverson previously served as CFO for Apollo Education Group, Inc. (AEG), a global private-sector education company, where he had been employed in roles with increasing responsibility since 2007.
Overstock was one of the first companies to permit sales using bitcoin, and is the third-most active corporate investor in blockchain technology over the last five years, according to data company CB Insights. The company plans to launch a licensed digital coin trading platform through its tZero subsidiary.
“We are pleased to announce Greg Iverson as our new CFO,” said Overstock.com CEO Patrick M. Byrne. “Greg comes to us with great experience handling complex financial matters, and joins the Overstock team at a time when the opportunities for the future of our business will greatly benefit from his knowledge and experience.”
Iverson was instrumental in the acquisition of AEG by Apollo Global Management, LLC and The Vistria Group, LLC in February 2017, in which the company was also taken private in a $1.1B transaction. Additionally, Iverson brings more than 20 years of financial, operational, and merger, acquisition and divestiture experience and is a Certified Public Accountant.
Iverson will join Overstock on April 16. He is replacing Robert Hughes, who is retiring from his current role with Overstock.com in order to become CFO of DeSoto Inc. DeSoto, Inc. is the recently-announced joint venture between Byrne, Medici Ventures, Inc., and famed Peruvian economist Hernando de Soto that plans to utilize blockchain and other technology to develop a property registry system to surface the property rights of billions of people in the developing world.