CEO Of US Online Retailer Overstock.com Resigns After Disclosing Romantic Relationship With Russian Agent

The CEO of a United States (US) online home goods retailer Overstock.com, Patrick Byrne on Thursday (22 August) resigned from his role as the chief executive and board member after disclosing his romantic relationship with Russian agent Maria Butina, CNN reported.

Butina, who has admitted to operating as an unregistered foreign agent in the US and is currently serving an 18-month prison sentence, has been charged with attempting to infiltrate conservative political organisations to advance Russian interests at the behest of Alexander Torshin, the former deputy governor of Russia’s central bank.

Torshin and Butina co-founded a gun-rights group in Russia and presented themselves as natural ideological allies to conservative American groups such as the NRA (National Rifles Association).

A series of articles by Fox News contributor Sara Carter exposed Byrne's relationship with Butina. As per Carter's report, Byrne was also drawn in to an investigation by the FBI of Russian interference in the 2016 election due to his romantic relationship with Butina.

As a fallout of the media investigation, Byrne issued a press release stating that he helped the FBI's "'Clinton Investigation' and the 'Russian Investigation'" — "operating under the belief that I was helping legitimate law enforcement efforts."

“Starting in 2015 I (operating under the belief that I was helping legitimate law enforcement efforts) assisted in what are now known as the ‘Clinton Investigation’ and the ‘Russian Investigation’ (in fact, I am the notorious ‘missing Chapter 1’ of the Russian investigation),” he wrote, going on to say that this was “the third time in my life I helped the Men in Black.”

Announcing his resignation on Thursday, Byrne said “Though patriotic Americans are writing me in support, my presence may affect and complicate all manner of business relationships, from insurability to strategic discussions regarding our retail business.”

“Thus, while I believe that I did what was necessary for the good of the country, for the good of the firm, I am in the sad position of having to sever ties with Overstock, both as CEO and board member, effective Thursday August 22.” he added.

Overstock's stock price, which plunged last week, surged more than 10 per cent Thursday on news of Byrne's exit.