Opendoor Technologies Inc. announced a significant leadership restructuring, appointing former Shopify executive Kaz Nejatian as its new Chief Executive Officer. Co-founder Keith Rabois was named Chairman of the Board, and co-founder Eric Wu, who previously served as the company's first CEO, returned to the board.
This leadership overhaul follows the resignation of former CEO Carrie Wheeler last month, which occurred after a period of investor pressure. The company stated it was 'going into founder mode' with these appointments, signaling a renewed strategic direction.
Mr. Nejatian expressed a commitment to leveraging artificial intelligence to make the process of buying and selling a home 'radically simpler, faster and more certain.' This new leadership team is expected to drive the company's strategic pivot and innovation efforts.
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