Opendoor Technologies Inc. announced changes to its Board of Directors with the departure of Jason Kilar and the appointment of Eric Feder. Kilar, who has served on the Board for five years, will resign effective June 14, 2024, following the company's annual meeting of stockholders. His resignation is not due to any disagreements with the company. Feder, President of LEN, LLC and a senior executive at Lennar Corporation, will join the Board as a Class III director with a term expiring at the 2026 annual meeting. Feder's appointment, effective May 1, 2024, is part of a strategic relationship with Lennar, a key shareholder and homebuilder partner of Opendoor. He brings extensive experience in real estate and capital markets, having overseen Lennar's innovation...Show More

Opendoor Technologies Inc. announced changes to its Board of Directors with the departure of Jason Kilar and the appointment of Eric Feder. Kilar, who has served on the Board for five years, will resign effective June 14, 2024, following the company's annual meeting of stockholders. His resignation is not due to any disagreements with the company. Feder, President of LEN, LLC and a senior executive at Lennar Corporation, will join the Board as a Class III director with a term expiring at the 2026 annual meeting. Feder's appointment, effective May 1, 2024, is part of a strategic relationship with Lennar, a key shareholder and homebuilder partner of Opendoor. He brings extensive experience in real estate and capital markets, having overseen Lennar's innovation platform and investments in real estate technology. Feder has also served on the board of Hippo Holdings Inc. and was Vice Chairman at Rialto Capital. Upon joining, Feder received a prorated grant of 10,293 restricted stock units. The Board will consist of eight directors post these changes, with seven being independent. CEO Carrie Wheeler expressed gratitude to Kilar for his contributions and welcomed Feder, anticipating the value his expertise will add to the company.