Opendoor CEO Carrie Wheeler's departure comes as retail investors pushed the stock up more than 200% in the last month.

Shrisha Radhakrishna has been named president and interim leader of Opendoor, the company said in a statement Friday. Opendoor shares soared Friday, rising as much as 16% before paring the gain slightly.

Opendoor Technologies shares jumped about 16% on Friday following the announcement that CEO Carrie Wheeler will step down from the online real estate company. Wheeler, who took over in 2022, said she is accelerating succession plans she had shared with the board earlier this year,