Opendoor Technologies said on Friday that Chief Executive Officer and chair Carrie Wheeler has resigned effective immediately. Chief Technology and Product Officer Shrisha Radhakrishna was named president and interim leader while the board conducts an external search, supported by executive-recruiter Spencer Stuart. Wheeler will remain an adviser until year-end, and LenX president Eric Feder becomes lead independent director. Wheeler, who took the helm in late 2022, said the decision follows “weeks of intense outside interest” in the online real-estate platform. Her departure comes after a highly public campaign by retail investors and company co-founder Keith Rabois questioning her strategy amid a housing-market downturn. Opendoor’s succession process began in mid-2025, according to the company. Investors cheered the shake-up. Opendoor shares rose as much as 14 % in pre-market trading and were recently up about 10 %, lifting the stock more than six-fold from its June low of US$0.51 and valuing the company at roughly US$2.5 billion. The San Francisco-based firm, which buys and sells homes online, has been trimming costs and marketing spend as rising interest rates suppress housing activity. In its latest outlook Opendoor forecast the purchase of about 1,200 homes in the third quarter, down from 1,757 in the prior period. Radhakrishna said he will focus on accelerating product roll-outs such as the Cash Plus service and on leveraging the company’s data assets while the board searches for a permanent chief executive.