OpenText Announces Chadwick Westlake to pursue CEO opportunity in Canadian banking sector

Waterloo, ON – 2025-07-09 –OpenText™ Corporation (NASDAQ: OTEX), (TSX: OTEX) announced today that Chadwick Westlake will step down as EVP, Chief Financial Officer to assume the President & Chief Executive Officer role at his former employer, EQB, following the unexpected passing of its CEO. Mr. Westlake's departure will be effective August 15, 2025, post-completion of OpenText's fiscal year-end reporting.

OpenText has initiated a comprehensive search to identify a long-term successor with the assistance of a leading executive search firm. Following Mr. Westlake's departure in August and until the search is completed, Cosmin Balota, OpenText's SVP, Chief Accounting Officer, will serve as CFO on an interim basis.  Mr. Balota has over 30 years of experience, joined OpenText in 2019, and is a Chartered Professional Accountant in Canada and holds a Master of Accounting from the University of Waterloo.

"We appreciate Chadwick's contributions during his time as CFO, and congratulate him on his new role," said Mark J. Barrenechea, OpenText CEO & CTO. "We are pleased to have an incredibly experienced senior Finance Team and to have Cosmin serve in the interim position as we continue to advance our strategic objectives with a strong financial foundation. On behalf of OpenText, I want to express our condolences to the family and colleagues of Andrew Moor, President & CEO of EQB, on his recent unexpected passing."

"It has been a tremendous experience at OpenText. I am proud to have worked with this incredible team at one of the best companies in the world, and I leave knowing OpenText has an extremely bright future ahead," commented Mr. Westlake. "I look forward to completing the fiscal year and transitioning my responsibilities before taking on my next opportunity later in August."

Strong Preliminary Q4 Revenue Expectations

OpenText also announced today strong preliminary fourth quarter fiscal year 2025 revenue expectations of approximately US$1.31 billion. OpenText will release its full financial results for its fourth quarter fiscal year 2025 after the close of market on Thursday, August 7, 2025.

Mark J. Barrenechea (OpenText CEO & CTO), together with Chadwick Westlake (EVP, Chief Financial Officer), Paul Duggan (President, Chief Customer Officer), Todd Cione (President, Worldwide Sales), and Cosmin Balota (SVP, Chief Accounting Officer) will host an earnings call webcast at 8:30 a.m. ET on Friday, August 8, 2025, from the OpenText Investor Relations website.

"We are pleased with our strong Q4 revenue expectations and want to thank our customers for their continued trust. We look forward to discussing our full Q4 results in early August," continued Mr. Barrenechea. 

Earnings Call Webcast Details

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.

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Contact:

Erin McCabe
OpenText
publicrelations@opentext.com