Opendoor Technologies Inc. has initiated another significant change to its executive leadership team. The company disclosed in a Friday filing with the U.S. Securities and Exchange Commission that Chief Financial Officer Selim Freiha is departing effective immediately. Veteran executive Christy Schwartz has been appointed to assume the interim CFO position starting September 30. This transition represents the latest in a series of high-level management changes at the technology-powered real estate marketplace.
The leadership shift occurs against a backdrop of substantial stock price volatility and ongoing pressure from activist investors. The move follows closely on the heels of other major appointments, including the naming of Kaz Nejatian as Chief Executive Officer on September 10. That earlier announcement also marked the return of company co-founders Keith Rabois and Eric Wu to Opendoor’s board of directors.
Schwartz brings considerable institutional knowledge to her interim role, suggesting the company prioritizes stability during this period of transition. Her previous tenure with Opendoor includes serving as interim CFO from December 2022 through November 2024, followed by a term as Chief Accounting Officer from March 2021 until May 2025.
- CFO Selim Freiha exits the company effective immediately
- Christy Schwartz appointed as interim CFO effective September 30
- Schwartz previously received compensation including a $1.2 million base salary plus 400,641 stock options
Financial markets responded modestly to the news on Friday. Opendoor’s stock price declined by 3.72 percent, closing at $9.57 after previously trading at $9.94.
Should investors sell immediately? Or is it worth buying Opendoor?
This executive transition comes during a period of remarkable turbulence for the company. Opendoor shares have experienced dramatic appreciation in recent months, surging more than 500 percent since the beginning of the year—a performance that has drawn comparisons to meme stocks. This heightened investor attention coincided with activist investor pressure that preceded the resignation of former CEO Carrie Wheeler on August 15.
The appointment of an experienced insider like Schwartz appears strategically designed to maintain financial continuity as new CEO Kaz Nejatian begins implementing his operational vision. The refreshed leadership team has indicated plans to focus on artificial intelligence and software development to optimize the company’s business model.
Market observers will be watching closely to see how this leadership change affects strategic direction, particularly regarding the planned national expansion and potential cost-cutting initiatives referenced by newly appointed board chairman Keith Rabois.
The company’s next comprehensive financial update will come with its third-quarter earnings report, scheduled for release on November 6. Despite the stock’s meteoric recent performance, Wall Street analysts maintain a consensus “Hold” rating on Opendoor shares, reflecting a cautious stance as the new leadership team establishes its footing.
Ad
Opendoor Stock: Buy or Sell?! New Opendoor Analysis from December 22 delivers the answer:
The latest Opendoor figures speak for themselves: Urgent action needed for Opendoor investors. Is it worth buying or should you sell? Find out what to do now in the current free analysis from December 22.
Opendoor: Buy or sell? Read more here...
