Overstock co-founder resigns from top posts

Overstock.com Inc. co-founder Jason Lindsey has resigned as president, chief operating officer and director of the Internet-based retailer.

Lindsey, whose term ended Dec. 31, said he was "ready to take a less-active role in order to spend time on outside ventures," according to a company statement Wednesday. He will continue managing special projects part time for the Salt Lake City-based company.

Overstock doesn't plan to replace Lindsey, who served as the company's chief financial officer from 1999 to 2003, said chief executive officer Patrick Byrne, who will assume Lindsey's responsibilities.

Lindsey has been Overstock's president and operating officer since April 2006, the company said. He has served on the board of directors since October 2005.