Opendoor CEO Wheeler steps down, company begins search for replacement

Opendoor Technologies Inc. (NASDAQ: OPEN) announced that CEO and Board Chair Carrie Wheeler stepped down from her roles, effective immediately. The board appointed Chief Technology & Product Officer Shrisha Radhakrishna as president and interim leader.

Wheeler will serve as an advisor to the board through the end of 2025. The board elected Eric Feder, president of LenX, as lead independent director. The company retained executive search firm Spencer Stuart to assist with finding Wheeler's permanent replacement.

Wheeler joined Opendoor as a board member six years ago, later serving as chief financial officer during the company's initial public offering before becoming CEO. During her tenure, the company launched products including Cash Plus and Key Connections.

Radhakrishna joined Opendoor as chief technology and product officer in 2024. He previously held similar roles at LegalZoom and spent over a decade at Intuit, where he helped develop QuickBooks Self-Employed and QuickBooks Online. He holds a bachelor's degree from Bangalore University and an MBA from Northwestern University's Kellogg School of Management.

The San Francisco-based company operates an e-commerce platform for residential real estate transactions across markets nationwide. Radhakrishna and Chief Financial Officer Selim Freiha will report directly to the board during the CEO search process.

The leadership transition occurs as Opendoor focuses on scaling its data assets and artificial intelligence capabilities in the real estate technology sector.

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