Overstock.com

(OSTK) - Get Report

announced Thursday that its president and chief financial officer resigned for personal reasons but will remain with the company in a limited role. CEO Patrick Byrne will add president to his title.

"I've decided to step down as president and CFO so I can devote more time to tend to a family health issue," Lindsey said in a prepared statement. "While I won't be as involved in the day-to-day management of the company, I will continue to advise Patrick regarding Overstock.com's business."

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Lindsey has served as Overstock.com's CFO since the company was launched in 1999, and he was named president in April 2003. Now, Byrne, the company's chairman and chief executive, will reassume the role of president, and David Chidester, the online retailer's controller, will serve as acting CFO.

Overstock.com's shares were recently down 50 cents, or 3.99%, to $12.03.