Opendoor President Lucas Matheson steps down; CEO Kaz Nejatian adds president role

Opendoor Technologies President Lucas Matheson stepped down on Wednesday, and the home-buying platform's chief executive, Kaz Nejatian, is taking on the president title as well.

Matheson's departure as president was effective the same day, according to an 8-K Opendoor filed Wednesday. Under a transition agreement, he will remain an employee in a non-executive role as an adviser to the CEO through July 15, 2027, on substantially the same terms and pay.

If his employment ends on July 15, 2027, or earlier for any reason other than termination for cause, Matheson will receive his base salary through that date plus severance under the company's executive severance plan, the filing says.

The board appointed Nejatian, 44, as president in addition to his roles as CEO and director. His compensation is not expected to change, according to the 8-K.

The filing did not give a reason for Matheson's departure. Opendoor said the transition agreement will be filed as an exhibit to a later periodic report.

Sources

1. Opendoor Technologies Inc., Form 8-K (Item 5.02), filed Oct. 21, 2026, accession 0001140361-26-040415

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