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Opendoor Initiates CEO Search Amid Leadership Transition
ByAinvest
Sunday, Aug 17, 2025 6:53 am ET1min read
Opendoor Technologies has announced the departure of CEO Carrie Wheeler, who will continue as an advisor until the end of the year. Shrisha Radhakrishna has been appointed interim leader, focusing on tech innovation and product scaling. The company is prioritizing the rollout of Cash Plus and enhancing its core cash-offer business. A CEO search has been initiated, with Spencer Stuart aiding the process.
Opendoor Technologies Inc. (Nasdaq: OPEN) has announced significant leadership changes, with Carrie Wheeler stepping down as CEO and Shrisha Radhakrishna taking over as interim President. The move comes amidst the company's recent stock rally and strategic evolution.Carrie Wheeler, who joined Opendoor in 2022, has been instrumental in turning the company around. Under her leadership, Opendoor went from $1 billion in losses to announcing its first quarter of positive EBITDA in three years. However, she has decided it is the right moment for a leadership transition [1].
Shrisha Radhakrishna, previously the Chief Technology & Product Officer, has been appointed as President and interim leader. Her focus will be on enhancing Opendoor's products and defining the future of residential real estate transactions. The company is prioritizing the rollout of Cash Plus and enhancing its core cash-offer business [2].
The appointment of Radhakrishna comes amid a CEO search process that began in mid-2025, with Spencer Stuart assisting. The Board has elected Eric Feder as Lead Independent Director, expressing confidence in the company's data-driven approach and unique assets [2].
Opendoor's stock has seen a significant rise, with shares up nearly 220% in the past month and over 100% since January. The rally was initially driven by hedge fund manager Eric Jackson, who posted that he believed Opendoor "could be a 100-bagger over the next few years" [1].
Wheeler will continue as an advisor to the Board until the end of the year. She expressed gratitude for the opportunity to lead Opendoor and confidence in the company's future direction.
References:
[1] https://www.businessinsider.com/opendoor-ceo-carrie-wheeler-steps-down-meme-stock-2025-8
[2] https://www.quiverquant.com/news/Opendoor+Technologies+Appoints+Shrisha+Radhakrishna+as+President+Following+CEO+Carrie+Wheeler%27s+Departure
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