Carrie Wheeler, Opendoor’s current CEO and chair of the board, is stepping down from her roles with the company, effective immediately.

Opendoor (OPEN) shares closed higher on Friday after the digital real estate platform said Carrie Wheeler – its chief executive and chair of the board – is stepping down from both of her top roles. The online company that buys and sells residential property has already started looking for a new CEO.

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,