Opendoor Technologies announced on Sept.10 that Kaz Nejatian, COO of Shopify, has been appointed CEO and member of the board of directors.
Nejatian replaces Carrie Wheeler, who stepped down as CEO and chair of the board Aug. 15.
A lawyer-turned-entrepreneur and product leader, Nejatian is an AI-native executive with a track record of transforming products, teams and companies at scale, according to Opendoor.
“It’s a privilege to become Opendoor’s leader,” said Nejatian. “Few life events are as important as buying or selling a home. With AI, we have the tools to make that experience radically simpler, faster and more certain. That’s the future we’re building.”
“Literally there was only one choice for the job: Kaz,” said Rabois. “He is a decisive leader who has driven product innovation at scale, ruthlessly reduced G&A expenses to drive profitability and deeply understands the potential for AI to radically reshape a company’s entire operations.
“He is a proven executive with a founder’s brain. He is the right leader to unlock Opendoor’s unique data and assets as we build on Opendoor’s original mission, now enhanced as an AI-first company. The future of homebuying and selling is now in the chat.”
The company also announced the appointments of Opendoor Co-Founders Keith Rabois, managing director at Khosla Ventures, and Eric Wu, co-founder of NavigateAI, to the board, effective immediately. Rabois will assume the role of chairman, and Eric Feder will continue in his role as lead independent director.
“Rabois and Wu, who co-founded Opendoor in 2013, will inject the ‘founder DNA’ and energy at a pivotal moment for Opendoor. They are passionate about our community, and we’re excited to welcome them back to the Board,” stated Feder.
“Opendoor’s mission is more relevant than ever,” added Wu. “Homeowners deserve a better system, and with Kaz’s vision, mentality and creativity, I’m confident he can lead Opendoor’s next chapter and build a category-defining company.”
Along with Rabois’s and Wu’s appointments to the board, Pueo Keffer and Glenn Solomon have stepped down from the board.
