Opendoor Brings Back Founders and Welcomes New CEO—Fortune
September 12, 2025
Opendoor Technologies is making headlines with the appointment of former Shopify COO Kaz Nejatian as CEO and a compensation package that could net him nearly $2.8 billion if he meets ambitious stock price targets. The deal underscores the company’s “founder mode” strategy, with co-founders Eric Wu and Keith Rabois returning to the board and injecting fresh capital.
Farient Advisors’ Vice President Eric Hoffmann provided analysis to Fortune, noting that Nejatian’s package is built around two performance-based awards—one ensuring shareholder value isn’t eroded and another tied to aggressive stock price milestones up to $33.
Hoffmann observed that the structure reflects a significant bet on Nejatian’s leadership and aligns with similar equity-heavy arrangements seen at other high-growth tech companies. Farient’s Senior Data Analyst Claire Kamas also noted parallels to CEO pay plans at DoorDash and Airbnb, which emphasized stock price performance post-IPO.
About Eric Hoffmann
Chief Data Officer
Louisville, Kentucky
(626) 800-3120
eric.hoffmann@farient.com
Eric leads Farient’s data strategy, operational capabilities, partnerships, research, and client insights. With more than 20 years of human resource technology and data analytics experience, Eric’s work at Farient focuses on creating and delivering information and decision support to boards of directors, human resource professionals, and investors. Combining data analytics and visualization, Eric and his team create compelling narratives that lead to business insight and defensible decisions for his clients.
Eric has extensive experience in executive compensation and performance. From March 2005 to January 2011, he was the Technology Solutions Delivery Leader and a partner at Mercer. In support of Mercer’s compensation and benefits data and analytics business, Eric and his global, cross-disciplinary team delivered leading-edge SaaS-based client-facing and operationally driven data analytics solutions. Before that, Eric was a principal at Mercer, where he led a software development team. Eric holds a BS in computer science and mathematics from Purdue University and an MS in computer science from the University of Illinois at Urbana-Champaign.
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