Opendoor Technologies Inc. said Friday that Chief Executive Officer and Chair Carrie Wheeler has stepped down with immediate effect, and the board has begun a formal search for her successor. Chief Technology & Product Officer Shrisha Radhakrishna has been promoted to president and interim CEO, while Lennar executive Eric Feder has been elected lead independent director. Executive-recruitment firm Spencer Stuart is assisting with the succession process that started in mid-2025, the company added. Wheeler, who became CEO in late 2022 after serving as chief financial officer, will remain an adviser until the end of the year. Opendoor said the transition is aimed at accelerating its next phase of growth, including scaling the data-driven “Key Connections” program, expanding the Cash Plus financing product and strengthening its core cash-offer home-buying business. Opendoor shares rose about 8% in early trading following the announcement and have climbed more than 200% in the past month amid heightened retail-investor interest.