Opendoor CEO Carrie Wheeler Steps Down, Shrisha Radhakrishna Takes Over as President.

Opendoor Technologies Inc. has announced that Carrie Wheeler, the current CEO and Chair of the Board, is stepping down from her roles effective immediately. Shrisha Radhakrishna has been appointed President and interim leader, while Eric Feder will serve as Lead Independent Director. Wheeler will act as an advisor through the end of the year. The company is undergoing a CEO succession planning process, with Spencer Stuart assisting in the search.

Opendoor Technologies Inc. (Nasdaq: OPEN) has announced significant leadership changes with the resignation of Carrie Wheeler, the company's CEO and Chair of the Board, effective immediately. Wheeler will continue to act as an advisor to the Board through the end of the year. Shrisha Radhakrishna, the company's Chief Technology & Product Officer, has been appointed as President and interim leader, while Eric Feder has been elected as Lead Independent Director. The company has retained Spencer Stuart to assist with the CEO succession process that began in mid-2025 [1].

The transition comes as Opendoor focuses on scaling Key Connections, rolling out Cash Plus across markets, and improving its core cash-offer business. Radhakrishna, who joined as CTPO in 2024, brings over 20 years of experience in tech innovation and has already led initiatives reducing infrastructure costs and launching new experiences like Cash Plus. During the CEO search, Radhakrishna and CFO Selim Freiha will report directly to the Board [1].

The Board has expressed confidence in the company's strategy and the team's ability to create long-term value for customers, agents, and shareholders. Eric Feder, the new Lead Independent Director, praised Wheeler's leadership and dedication, stating that she left the company in a stronger position than when she took it over [1].

Shrisha Radhakrishna, the interim leader, is excited about Opendoor's future and is committed to enhancing current products while building the platform that will define the future of residential real estate transactions. The company's focus on innovation and strategic growth is expected to continue under Radhakrishna's leadership [1].

The CEO succession process is well underway, and the company is expected to make a decision on a new CEO in the near future. The transition highlights Opendoor's commitment to strategic evolution and long-term growth, positioning the company for success in the competitive residential real estate market.

References:
[1] https://www.stocktitan.net/news/OPEN/opendoor-announces-ceo-search-in-support-of-next-phase-of-growth-and-2e2416dukav5.html