Opendoor Appoints Shrisha Radhakrishna as President, Carrie Wheeler Steps Down as CEO

Opendoor Technologies Inc. has appointed Shrisha Radhakrishna as President and interim leader, with Carrie Wheeler stepping down as CEO and Chair of the Board. Radhakrishna has been Chief Technology & Product Officer since 2024, leading the development of game-changing products for customers. The company has begun a CEO search, with Radhakrishna and CFO Selim Freiha reporting directly to the Board. Wheeler will act as an advisor through the end of the year.

Opendoor Technologies Inc. has appointed Shrisha Radhakrishna as President and interim leader, effective immediately, following the resignation of CEO Carrie Wheeler. Wheeler, who also served as Chair of the Board, will remain as an advisor to the Board through the end of 2025 [1].

Radhakrishna, who has been the company's Chief Technology & Product Officer since 2024, will report directly to the Board alongside Chief Financial Officer Selim Freiha during the transition period [3]. The appointment comes as the company maintains a strong liquidity position, with current assets significantly exceeding short-term obligations, as indicated by a current ratio of 4.35 [3].

The leadership transition reflects Opendoor's strategic pivot towards an AI-focused platform for real estate transactions, as highlighted by the appointment of Radhakrishna, who has a strong background in technology and product development [1]. Prior to joining Opendoor, Radhakrishna held positions at LegalZoom and Intuit, contributing to the development of QuickBooks products [3].

The company has initiated a formal search for a permanent successor, with Spencer Stuart assisting in the process [3]. The market's enthusiastic response to the leadership shake-up reflects investor optimism that a new, tech-focused vision can unlock Opendoor's potential [1]. The transition marks a pivotal moment for the company as it seeks to redefine its path forward under new leadership, with a renewed emphasis on its core technology and AI capabilities.

References:
[1] https://paginasiete.bo/opendoor-open-stock-surges-as-ceo-carrie-wheeler-resigns-amid-activist-pressure-open-stock-price/
[2] https://finance.yahoo.com/news/opendoor-stock-pops-10-as-company-says-ceo-will-step-down-142931274.html
[3] https://ca.investing.com/news/company-news/opendoor-appoints-radhakrishna-as-president-amid-ceo-departure-93CH-4162382