OpenText names James McGourlay as Interim CEO, effective immediately

Open Text announced the appointment of James McGourlay, currently Executive Vice President, International Sales at OpenText (OTEX), as Interim CEO, effective immediately. McGourlay has been with the company for more than 25 years and has held senior roles in sales, customer operations, IT, technical support, product support and special projects. The OpenText Board of Directors informed Mark Barrenechea of this transition from his role as CEO, Chief Technology Officer, and Vice Chairman of the Board, effective immediately. To support the executive leadership team during the transition period, the Company announced the appointment of P. Thomas Jenkins as Executive Chair and Chief Strategy Officer, and the establishment of an Executive Committee. Members of the Executive Committee include Mr. Jenkins as Chair, Mr. McGourlay, Interim CEO, Paul Duggan, President & Chief Customer Officer, Todd Cione, President, Worldwide Sales, Cosmin Balota, Interim CFO & Chief Accounting Officer and Michael Acedo, Executive Vice President, Chief Legal Officer and Corporate Secretary. Mr. Jenkins, currently Chair of the Board, previously served as CEO of the company and Executive Chair. The Board also appointed Major-General (Ret.) David Fraser as the independent Lead Director of the OpenText Board. OpenText also announced that it will continue to work with its financial advisors to explore portfolio-shaping opportunities that enhance focus on the Company’s core Information Management for AI business and deliver long-term shareholder returns. There can be no assurance that this ongoing work will result in the Company pursuing a transaction. There is no timeframe for the conclusion of the process, and the Company does not intend to comment further unless and until further disclosure is determined to be appropriate.