Leadership Shakeup Concludes as Opendoor Shares Maintain Meteoric Rise

Opendoor Technologies has navigated a period of significant executive turnover, culminating in the departure of Chief Financial Officer Selim Freiha. The company announced the appointment of Christy Schwartz as interim CFO, effective September 30th. This leadership change arrives against a stunning backdrop: the company’s stock has surged more than 500% year-to-date.

The CFO transition represents the final piece of a sweeping management restructuring that was set in motion on September 10th with the appointment of Kaz Nejatian as Chief Executive Officer. Nejatian, a former Chief Operating Officer at Shopify, succeeded Carrie Wheeler following pressure from activist investors.

In a parallel move, company founders Keith Rabois and Eric Wu rejoined the board of directors, with Rabois assuming the role... Read more...