Opendoor Leadership Shakeup Sparks Market Turbulence

Opendoor Technologies finds itself navigating a period of significant executive turnover. The real estate technology firm announced on Friday that Chief Financial Officer Selim Freiha is departing, delivering another blow to its already struggling stock. Stepping into the interim CFO role effective September 30th is Christy Schwartz, who previously held the position from December 2022 until November 2024.

The company is executing a radical strategic shift, moving away from its core “iBuying” model of instant cash offers toward a more diversified platform incorporating traditional brokerage services. This new direction is set to include property listings and hybrid “Cash Plus” options. This overhaul follows Opendoor reporting its first positive adjusted EBITDA in three years for the second quarter of 2025, although revenues continue to contract. The... Read more...