Veteran Finance and Tech Executive with Track Record of Driving Transformational Change Joins Offerpad
06 Juli 2023 - 12:30PM
Business Wire
Jawad Ahsan named CFO beginning July 10,
2023
Offerpad Solutions Inc. (“Offerpad”) (NYSE: OPAD), a leading
tech-enabled platform for residential real estate, today announced
that Jawad Ahsan will become Chief Financial Officer of Offerpad
effective July 10, 2023, succeeding Michael Burnett. Mr. Burnett
will remain with the Company in an advisory capacity through August
1, 2023 to assist with the transition.
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“On behalf of the Offerpad team, I want to thank Mike for his
leadership and stewardship over the past four years,” said Brian
Bair, Chairman and CEO of Offerpad. “He played an instrumental role
in driving our successful public listing and developing a talented
finance team. We wish him well in all future endeavors.”
Jawad Ahsan most recently served as President of FreePower Inc.
Prior to joining FreePower, he served for 5 years as CFO at Axon
Enterprise, Inc. (Nasdaq: AXON). Throughout his tenure, he was
instrumental in helping grow Axon’s market cap from $1 billion to
over $13 billion and raising over $600 million through two
follow-on offerings. Prior to Axon, Ahsan served as CFO for Market
Track, a market intelligence tech company. Ahsan also spent 13
years in various roles at General Electric, most notably serving as
CFO for Centricity, GE Healthcare’s electronic health record and
enterprise software businesses. He currently serves on the Board of
Directors of FARO Technologies Inc. (Nasdaq: FARO) and previously
served on the Board of Directors of STORE Capital Corporation
(NYSE: STORE) prior to its sale to GIC. Ahsan earned his MBA from
the MIT Sloan School of Management and a BA in Economics from the
College of the Holy Cross.
Ahsan is an innovative leader. He comes with an impressive track
record of growing both top and bottom-line results by executing
with a sense of urgency and cultivating new partnerships. Ahsan’s
addition to the Offerpad leadership team amplifies the company’s
opportunity to accelerate its near-term growth strategy.
“Jawad is a highly regarded CFO with extensive experience and an
accomplished career. I believe his strengths and expertise will add
significant value to Offerpad by helping drive profitable growth
and improving our operational excellence,” said Bair.
“My history building high-performing organizations for companies
experiencing rapid growth is a perfect fit for Offerpad. I am
excited to work with this talented team, and I believe there is
tremendous opportunity for value creation as we advance Offerpad’s
mission to revolutionize the real estate industry,” said Ahsan.
About Offerpad
Offerpad’s mission is to deliver the best home buying and
selling experience. From cash offers and flexible listing options
to mortgages and buyer services, Offerpad has been helping
homeowners since 2015. We pair our local expertise in residential
real estate with proprietary technology to put you in control of
the process and help find the right solution that fits your needs.
Visit Offerpad.com for more information.
#OPAD_IR
Forward-Looking Statements
Certain statements in this press release may be considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events or Offerpad’s future
financial or operating performance. For example, statements
regarding the chief financial officer transition and Mr. Ahsan’s
anticipated contributions are forward-looking statements. In some
cases, you can identify forward-looking statements by terminology
such as “pro forma,” “may,” “should,” “could,” “might,” “plan,”
“possible,” “project,” “strive,” “budget,” “forecast,” “expect,”
“intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,”
“potential” or “continue,” or the negatives of these terms or
variations of them or similar terminology. Such forward-looking
statements are subject to risks, uncertainties, and other important
factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements.
Factors that may impact such forward-looking statements include,
but are not limited to, Offerpad’s ability to respond to general
economic conditions; the health of the U.S. residential real estate
industry; Offerpad’s ability to grow market share in its existing
markets or any new markets it may enter; Offerpad’s ability to
manage its growth effectively; Offerpad’s ability to accurately
value and manage inventory, and to maintain an adequate and
desirable supply of inventory; Offerpad’s ability to successfully
launch new product and service offerings, and to manage, develop
and refine its technology platform; Offerpad’s ability to maintain
and enhance its products and brand, and to attract customers;
Offerpad’s ability to achieve and maintain profitability in the
future; the success of strategic relationships with third parties;
and Offerpad’s failure to meet the New York Stock Exchange’s
continued listing standards. These and other important factors
discussed under the caption "Risk Factors" in Offerpad’s Annual
Report on Form 10-K for the year ended December 31, 2022 filed with
the Securities and Exchange Commission on February 28, 2023, and
Offerpad’s other reports filed with the Securities and Exchange
Commission could cause actual results to differ materially from
those indicated by the forward-looking statements made in this
press release. These forward-looking statements are based upon
estimates and assumptions that, while considered reasonable by
Offerpad and its management, are inherently uncertain. Nothing in
this press release should be regarded as a representation by any
person that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. Offerpad undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required under applicable securities laws.
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Investors Stefanie Layton Investors@offerpad.com
Media Press@offerpad.com
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