OpenDoor Announces CEO Search As Carrie Wheeler Steps Down

OpenDoor Technologies (OPEN) announced on Friday that it will be looking for a new CEO as current chief executive Carrie Wheeler steps down.

While the company is looking for a new leader, Shrisha Radhakrishna will serve as the President and interim leader. Before this, he was OpenDoor’s chief technology and product officer. OpenDoor’s stock gained as much as 6.5% after the opening bell, with retail sentiment on Stocktwits surging to ‘bullish’ from ‘bearish’ territory a day ago.

Wheeler, who led Opendoor through its SPAC listing after joining as CFO in 2020, will remain as an adviser to the board through year-end. The company said its CEO succession plan, which began in mid-2025, is “well underway.” 

Since joining Opendoor, Radhakrishna has pushed to “ship game-changing products faster,” trimming millions in infrastructure costs and launching initiatives such as Cash Plus, which the company says has redefined its operating speed and customer value delivery. “I am incredibly excited about Opendoor’s next chapter. We are not only enhancing our current products but building the platform that defines the future of residential real estate transactions,” he said.

Until a new CEO is appointed, Radhakrishna and CFO Selim Freiha will report directly to the board.

The CEO transition and leadership changes come after OpenDoor’s stock saw some meme stock frenzy last month. The stock surged in a matter of weeks, driven by chatter on platforms like Reddit, X, and Stocktwits. The rally accelerated after hedge fund manager Eric Jackson of EMJ Capital publicly endorsed the company’s turnaround prospects, stating it could become a “100-bagger.”

Earlier this month, it saw another short rally after crypto investor and prominent podcaster Anthony Pompliano disclosed that he had taken a stake in the online real estate firm.

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