OSTK - Beyond Board of Directors Unanimously Votes to Enhance Governance and Accountability through Declassification | Benzinga
MIDVALE, Utah, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Beyond, Inc., (NYSE:BYON) ("Beyond" or the "Company"), the parent company of online furniture and home furnishings retailer Bed Bath & Beyond, formerly known as Overstock, today announced that its Board of Directors ("the Board") has unanimously approved a declassification of the Board, subject to shareholder approval at the 2024 Annual Meeting of Stockholders ("Meeting").
In accordance with Delaware law, the Board will put forward the proposal for declassification ("Proposal") for a vote at its next Meeting. Details related to the Proposal will be filed with the Company's annual proxy statement in advance of the Meeting. Following shareholder approval at the Meeting, and subsequent amendment of our Amended and Restated Certificate of Incorporation, each director of the Board will transition to an annual election in 2025.
Marcus Lemonis Co-Chair of the Board said, "Our collective Board, after discussions with various stakeholders, ...