Opendoor Appoints New CEO Kaz Nejatian with Bold $2.8 Billion Package

Opendoor Technologies has appointed **Kaz Nejatian** as its new CEO, offering him a remarkable compensation package potentially worth **$2.78 billion**. This move signifies the company’s strategic shift towards revitalizing its leadership with a focus on enhancing its stock performance. Nejatian’s success will depend on his ability to more than triple the company’s share price, which has garnered mixed perceptions, with some investors viewing it as a “meme stock.”

In addition to Nejatian’s appointment, Opendoor is welcoming back its founders, **Eric Wu** and **Keith Rabois** of **Khosla Ventures**, to the board. Wu served as CEO from 2013 to 2022 and chaired the board during 2020-2022, while Rabois has significant experience on boards of notable companies like **Reddit** and **Yelp**. Rabois has been appointed as chairman, and both will aim to inject “founder DNA and energy” into the company.

The company announced that Khosla Ventures and Wu have invested **$40 million** through a private equity purchase as part of this leadership overhaul. This funding is intended to bolster the company’s financial positioning as it navigates its next chapter. Alongside these changes, directors **Pueo Keffer** and **Glenn Solomon** have stepped down, marking a substantial shift in Opendoor’s leadership structure.

According to a press release from Opendoor, the company is embracing a “founder mode” philosophy with Nejatian’s appointment and the return of Wu and Rabois. Rabois expressed confidence in Nejatian’s capabilities, stating, “Literally there was only one choice for the job: Kaz. I am thrilled that he will be serving as CEO of Opendoor.”

Nejatian’s compensation plan diverges from traditional CEO structures, reflecting a bold strategy to align leadership with the ambitious growth objectives of Opendoor. The company appears committed to fostering innovation and revitalizing its market presence as it seeks to enhance shareholder value.

As Opendoor embarks on this new journey under Nejatian’s leadership, the company aims to solidify its position in the real estate technology sector. The focus will be on leveraging the expertise of its founders and the significant financial backing to navigate the competitive landscape effectively.