US EditionNejatian New Opendoor CEO; Co-Founders Rabois, Wu Return
Kaz Nejatian, an AI-native executive from Shopify, becomes CEO as co-founders Rabois and Wu return to board, coinciding with a $40 million investment to boost Opendoor's growth.
- Opendoor appointed Kaz Nejatian, former Shopify COO, as its new CEO on September 10, replacing Carrie Wheeler who resigned last month.
- Wheeler stepped down after activist investors exerted significant pressure amid concerns about her leadership and the company’s previous risk of being delisted from Nasdaq.
- Keith Rabois and Eric Wu, who originally founded Opendoor, have immediately rejoined the company’s board, with Rabois stepping into the chairman role to reinvigorate leadership during a crucial period.
- Rabois described Nejatian as a strong and effective leader who has successfully spearheaded innovative product developments, significantly cut general and administrative costs, and possesses a deep understanding of how AI can transform Opendoor’s overall operations.
- The leadership change and new board appointments sparked a 20.31% stock increase and investor optimism about Opendoor's AI-enhanced mission and growth prospects.
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Why the market's new favorite meme stock is surging again
A stock trader on the NYSE.Timothy A. Clary/AFP/Getty ImagesOpendoor is surging on Thursday on news of a leadership update at the real estate company. Co-founders Keith Rabois and Eric Wu and returning to serve on the company's board.Prominent shareholder Eric Jackson has praised this news as being highly beneficial for the company.The move: Opendoor Technologies surged as much as 56% on Thursday, hitting an intraday high of $9.20 shortly after …
OPEN stock today: Opendoor is on the rise again after it announced a new CEO. Who is Kaz Nejatian?
Shares in meme stock darling Opendoor Technologies (Nasdaq: OPEN) are surging once again after the real estate sales platform announced a new CEO: Kaz Nejatian, the chief operating officer of Shopify. Here’s what you need to know about Nejatian and how investors are reacting to the news. What’s happened? Yesterday, Opendoor named the chief operating officer of Shopify, Kaz Nejatian, as its new CEO. The appointment was news to many, but the fact …
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