WATERLOO, ON, Feb. 26,
2025 /PRNewswire/ --
OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced
Chadwick Westlake as Executive Vice
President, Chief Financial Officer, effective March 5, 2025, to succeed Madhu Ranganathan. This appointment underscores
the company's commitment to excellence and reinforces its top
priorities on total revenue growth, increased competitive
advantage, margin and free cash flow expansion, and upper quartile
capital returns.
Mr. Westlake is a highly experienced finance and transformation
executive, previously serving as the Chief Financial Officer of EQB
Inc., a leading digital financial services company. In his role,
Mr. Westlake led corporate strategy and development, and
overall financial management including investor relations,
treasury, capital markets, core finance functions and strategic
process improvement. Previously, Mr. Westlake held various
positions at Scotiabank for more than 18 years, including his last
role as Executive Vice President of Enterprise Productivity &
Canadian Banking Finance where he led a significant global cost
transformation and productivity improvement program.
"Chadwick is an outstanding executive, a proven winner and I
look forward to working with him," said Mark J. Barrenechea, OpenText CEO &
CTO. "Chadwick's experience of driving profitable growth,
strategic operations and shareholder value creation, are just the
skills we need to drive our next phase of growth and scale. He will
be based out of Richmond Hill, Ontario,
Canada, and I look forward to his amazing
contributions."
"This is a very exciting and defining time to join OpenText, as
the company continues to make solid progress against its long-term
strategy," said Mr. Westlake. "OpenText has a clear and
differentiated global operating model, and a winning focus on
exceptional customer experiences. I look forward to building on
this demonstrated strength to drive efficiencies across the
business to put us in a position to deliver a strong Fiscal 2026
and beyond with a renewed focus on the significant opportunity to
increase total shareholder returns and long-term value creation for
all stakeholders."
Barrenechea further added, "I would like to take this
opportunity to thank Madhu for her seven years of incredible
service to OpenText and the continuing transition support alongside
our amazing senior Finance Team members. I wish Madhu all the best
in her future endeavours."
About OpenText
OpenText is the leading Information
Management software and services company in the world. We
help organizations solve complex global problems with a
comprehensive suite of Business Clouds, Business AI, and Business
Technology. For more information about OpenText (NASDAQ/TSX:
OTEX), please visit us at www.opentext.com.
Connect with us:
OpenText CEO Mark Barrenechea's blog
Twitter | LinkedIn
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this press release may contain words
considered forward-looking statements or information under
applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Readers are cautioned not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. Unless otherwise required by applicable
securities laws, OpenText disclaims any intention or obligations to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Further,
readers should note that we may announce information using our
website, press releases, securities law filings, public conference
calls, webcasts and the social media channels identified on the
Investors section of our website (https://investors.opentext.com).
Such social media channels may include the Company's or our CEO's
blog, Twitter account or LinkedIn account. The information posted
through such channels may be material. Accordingly, readers should
monitor such channels in addition to our other forms of
communication.
Copyright ©2025 Open Text. OpenText is a trademark or registered
trademark of Open Text. The list of trademarks is not exhaustive of
other trademarks. Registered trademarks, product names, company
names, brands and service names mentioned herein are property of
Open Text. All rights reserved. For more information, visit:
https://www.opentext.com/about/copyright-information.
OTEX-F
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SOURCE Open Text Corporation
