Opendoor Announces CEO Carrie Wheeler Will Step Down And Appoints Shrisha Radhakrishna As President And Interim Leader

Opendoor Technologies Inc. (NASDAQ:OPEN), a leading e-commerce platform for residential real estate transactions, today announced that effective immediately, the Board has appointed Shrisha Radhakrishna as President and interim leader of Opendoor. Carrie Wheeler, Opendoor's current Chief Executive Officer and Chair of the Board, has made the decision to step down from her roles with the company, also effective immediately. Ms. Wheeler will act as an advisor to the Board through the end of the year. The Board has elected Eric Feder, President of LenX, Lennar Homes' strategic investing arm, as Lead Independent Director.

In conjunction with the company's strategic evolution, Ms. Wheeler approached the Board of Directors and they began a CEO succession planning process in mid-2025, retaining Spencer Stuart to assist with the process. The CEO search is well underway.

"The company is well positioned to focus on its considerable data and unique assets in today's high-tech AI world. The Board has confidence in the Opendoor team and has conviction in the strategy, including scaling Key Connections, the rollout of Cash Plus across our markets and continuous improvement of our core cash-offer business, and believes the company is creating long-term value for customers, agents and shareholders," said Mr. Feder.

"We are deeply grateful for Carrie's leadership and dedication to Opendoor over the past six years – first as a board member, then taking us public as CFO, and finally as our CEO," added Mr. Feder. "Carrie has always operated with the highest integrity and leaves this company in a stronger position than when she took it over."

"Leading Opendoor has been a true privilege," said Ms. Wheeler. "We've built a stronger, more focused company, expanded our offerings, and set the stage for the future – all in one of the most challenging real estate markets in history. I believe now is the right moment for a leadership transition, and I'm confident the company is on a strong path forward."

Mr. Radhakrishna currently serves as Opendoor's Chief Technology & Product Officer. Since joining as CTPO, Shrisha Radhakrishna has rallied the organization around a simple mandate: ship game-changing products for customers, faster. The team has successfully reduced millions in infrastructure costs and launched entirely new experiences like Cash Plus, fundamentally changing Opendoor's operating speed and how it delivers value.