SALT LAKE CITY, Dec. 08, 2017 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) and its blockchain subsidiary, Medici Ventures, announce they have taken the ParityPledge to increase their commitment to improving the opportunity for advancement of women into leadership positions. By taking the ParityPledge, Overstock and Medici Ventures have committed to interview at least one qualified female candidate for every open executive position, vice president and above, including the C-suite and board of directors.
The ParityPledge is an initiative of Parity.org, a non-profit organization focused on decreasing the amount of gender inequality within businesses. It was founded to correct the blunt reality of gender disparity at the top of companies today, with women representing only 20 percent of S&P 500 corporate executive teams and boards.
“We’re proud to take the ParityPledge to help further our commitment to equal representation of women at the leadership level,” said Meghan Tuohig, Overstock’s vice president of people care. “ParityPledge is a great external compliment to the internal work we have started with the Overstock Women’s Network, which is aimed at providing opportunities for career growth and advancement for our female associates.”
The Overstock Women’s Network was founded by Tuohig in 2017, and uses programming and education for all associates, regardless of gender, to inspire, support, and celebrate females in Overstock’s professional community.
“The most effective teams tend to have diversity amongst their members, bringing different viewpoints and experiences to the table when finding solutions for difficult problems,” said Overstock.com President Saum Noursalehi. “Taking the ParityPledge reaffirms Overstock’s commitment to diversity, and to finding and promoting the best possible talent.”
“We are thankful for organizations like Overstock.com and Medici Ventures that are willing to become role models for change,” said Cathrin Stickney, Parity.org founder and CEO. “We believe their public commitment and example will help us realize exponential progress toward reaching parity at the top.”
“As the technological community in Utah continues to grow, groups like Parity.org and the ParityPledge will help ensure our community grows in a way that is welcoming and empowering for women,” said Jonathan Johnson, Medici Ventures president and Silicon Slopes board member. “Medici Ventures supports this effort that will have a positive impact on so many talented members of the Utah business community.”
Parity.org is scheduled to announce the full list of founding companies, sponsors, and partners during the Silicon Slopes conference in January 2018.
About Overstock.com
Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Pet Adoptions and Worldstock.com dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.
About Medici Ventures:
Launched in 2014, Medici Ventures is a wholly owned subsidiary of Overstock.com, Inc., created to leverage blockchain technology to solve real-world problems with transparent, efficient and secure solutions. Medici Ventures has a growing portfolio of groundbreaking blockchain-focused investments, including tZERO.com, Peernova, Bitt, SettleMint, Factom, and IdentityMind, Spera and Symbiont. The company’s majority-owned financial technology company, tZERO.com, executed the world’s first blockchain-based stock offering in December 2016.
About Parity.org
Parity.org is a 501(c)(3) non-profit organization dedicated to gender equality at the highest ranks of business leadership. Parity.org is assembling a founding advisory board of some of the most recognized men and women leaders in business. The Parity.org URL was generously donated by The Kennedy Forum. You can follow Parity.org on Facebook, LinkedIn and Twitter.
O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended September 30, 2017, which was filed with the SEC on November 8, 2017, and any subsequent filings with the SEC.
SOURCE: Overstock.com, Inc.
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