OpenDoor hires Kaz Nejatian as a new CEO
The opendoor press release also noted that Eric Feder will retain his role as the main director of the board.
“Rabois and Wu, who were founded co-founder in 2013, will inject the ‘founder DNA’ and energy at a crucial moment for OpenDoor. They are passionate about our community and we are pleased to welcome them back to the board,” Feder said in a statement.
Nejatian, who has previous experience as a lawyer, entrepreneur and product leader, also has experience with the use of artificial intelligence to scale products, teams and companies. He has been at Shopify since 2019, where he helped with building teams and products for the e-commerce platform.
“It is a privilege to become the leader of OpenDoor,” said Nejatian. “Few life events are just as important as buying or selling a house. With AI we have the tools to make that experience radically easier, faster and more secure. That is the future we build.”
“Literally there was only one choice for the job: Kaz. I am very happy that he will serve as CEO of OpenDoor,” Rabois added. “He is a decisive leader who has driven product innovation, ruthless G&A costs reduced to stimulate profitability and understands the potential for AI to radically reform the entire activities of a company.”
Coincidental with the appointments of Rabois and Wu on the board, OpenDoor announced that Pueo Keffer and Glenn Solomon have left their positions.
“We are grateful to Pueo and Glenn for their many contributions to the company and their dedication to OpenDoor and our shareholders,” Feder said.
The departure of Wheeler was no surprise because she reportedly approached the board about a follow -up plan in mid -2025. When she resigned in August, the company appointed Shrisha Radhakrishna as president and interim leader. Wheeler agreed to serve as an adviser to the board until the end of this year, according to the submissions of 8 K with the Securities and Exchange Commission.
Her exit came shortly after the stock of OpenDoor went a wild ride. It rose in July after it was promoted by Meme Stock Subreddits and other social media agents.
On July 21, OpenDoor shares were traded for $ 3.31, an increase of 429% in a single week. But only two days later the price had fallen to a low point of $ 2.05 – a decrease of almost 50% acting in just a few hours. But it’s Resumed Since then, he has been priced on Wednesday at more than $ 8 during the trade after hours.
