Key facts
- Kaz Nejatian appointed president in addition to CEO role.
- Lucas Matheson to advise CEO through July 15, 2027.
- Opendoor reported a $162 million net loss in Q2 2026.
Opendoor Technologies Inc. announced that CEO Kaz Nejatian has assumed the role of president, effective October 21, 2026, in addition to his existing duties. This change follows the departure of Lucas Matheson from the president position. Matheson will transition to an advisory role for the CEO until July 15, 2027, under a transition agreement that maintains his current compensation. The company stated that Nejatian's compensation will not change with the added title. This consolidation of leadership aims to streamline decision-making amid market volatility and slower home sales. In the second quarter of 2026, Opendoor reported $883 million in revenue and a net loss of $162 million, compared to $1.567 billion in revenue and a $29 million net loss in the same period of the prior year.