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pendoor's CEO Carrie Wheeler has stepped down, effective immediately. The company announced the move on August 15, describing it as a transition that began earlier this year. Shrisha Radhakrishna, Chief Technology & Product Officer, will take over as president and interim leader while a search for a permanent CEO is underway.

    Wheeler had approached the board in mid-2025 to initiate the process of finding her replacement, retaining Spencer Stuart to lead the CEO search. Wheeler stated on LinkedIn that she believes accelerating her succession plans will allow new leadership to take hold. Opendoor's stock price surged after the announcement, having previously hovered below $1 since April.

    The company has reshaped its leadership structure, with CFO Selim Freiha and Radhakrishna reporting directly to the board. Eric Feder, president of Lennar Homes' strategic investing arm LenX, has been appointed as lead independent director to support governance during the transition.

    Radhakrishna, who joined Opendoor in 2024 from LegalZoom after a decade at Intuit, has overseen cost reductions and launched new offerings like Cash Plus. Wheeler will remain with the company as an advisor through the end of the year, having taken over as CEO after Eric Wu's departure in late 2022.