Leadership Shakeup Ignites Opendoor Stock Surge

Opendoor Technologies Inc. announced a sweeping leadership overhaul after U.S. markets closed yesterday, sending its shares soaring by more than 35% in extended trading. The dramatic executive reshuffle introduces a new chief executive officer from e-commerce leader Shopify and marks the return of the company’s founders to key leadership roles.

Kaz Nejatian, previously Chief Operating Officer at Shopify, has been appointed CEO of Opendoor, effective immediately. During his tenure at Shopify since 2019, Nejatian was instrumental in driving product innovation and overseeing the company’s operational expansion. This appointment follows the August departure of former CEO Carrie Wheeler, who stepped down amid mounting pressure from investors.

The executive changes extend beyond the CEO office. Company co-founder Keith Rabois of Khosla Ventures is returning to assume the... Read more...