[8-K] Open Text Corp Reports Material Event
OpenText announced an immediate executive leadership transition: James McGourlay was appointed Interim Chief Executive Officer and Mark J. Barrenechea was transitioned from his roles as CEO, Chief Technology Officer and Vice Chairman, effective immediately. The Board designated P. Thomas Jenkins as Executive Chair and Chief Strategy Officer and established an Executive Committee to support leadership during the transition; members include Jenkins (Chair), McGourlay (Interim CEO), Paul Duggan, Todd Cione, Cosmin Balota (Interim CFO & Chief Accounting Officer) and Michael Acedo.
The Board also named Major-General (Ret.) David Fraser as independent Lead Director and formed a CEO Search Committee of independent directors that will retain a leading executive search firm to identify the company鈥檚 next CEO. The filing notes Mr. McGourlay previously served as Executive Vice President, International Sales since 2021, leading sales across Asia, Japan, Latin America and Advancing Market regions, and states there are no arrangements, family relationships or related transactions requiring disclosure regarding his appointment.
OpenText ha annunciato una transizione immediata della leadership esecutiva: James McGourlay 猫 stato nominato Amministratore Delegato ad interim e Mark J. Barrenechea 猫 stato rimosso dai suoi ruoli di CEO, Chief Technology Officer e Vice Chairman, con effetto immediato. Il Consiglio ha designato P. Thomas Jenkins come Executive Chair e Chief Strategy Officer e ha istituito un Comitato Esecutivo per supportare la dirigenza durante la transizione; i membri sono Jenkins (Presidente), McGourlay (CEO ad interim), Paul Duggan, Todd Cione, Cosmin Balota (CFO ad interim e Chief Accounting Officer) e Michael Acedo.
Il Consiglio ha inoltre nominato il Maggiore Generale (in pensione) David Fraser come Lead Director indipendente e ha costituito un Comitato per la ricerca del CEO composto da amministratori indipendenti che incaricher脿 una primaria societ脿 di ricerca per individuare il prossimo CEO dell鈥檃zienda. Il documento segnala che McGourlay ha ricoperto in precedenza la carica di Executive Vice President, International Sales dal 2021, guidando le vendite in Asia, Giappone, America Latina e nelle regioni dei mercati in sviluppo, e specifica che non esistono accordi, rapporti familiari o transazioni correlate che richiedano divulgazione in relazione alla sua nomina.
OpenText anunci贸 una transici贸n inmediata en el liderazgo ejecutivo: James McGourlay fue nombrado Consejero Delegado interino y Mark J. Barrenechea fue relevado de sus cargos como CEO, Chief Technology Officer y Vice Chairman, con efecto inmediato. La Junta design贸 a P. Thomas Jenkins como Executive Chair y Chief Strategy Officer y cre贸 un Comit茅 Ejecutivo para apoyar al equipo directivo durante la transici贸n; los miembros son Jenkins (Presidente), McGourlay (CEO interino), Paul Duggan, Todd Cione, Cosmin Balota (CFO interino y Chief Accounting Officer) y Michael Acedo.
La Junta tambi茅n nombr贸 al Mayor General (Ret.) David Fraser como Lead Director independiente y constituy贸 un Comit茅 de B煤squeda del CEO formado por directores independientes que contratar谩 a una destacada firma de b煤squeda de ejecutivos para identificar al pr贸ximo CEO de la compa帽铆a. La presentaci贸n indica que McGourlay se desempe帽贸 anteriormente como Executive Vice President, International Sales desde 2021, liderando las ventas en Asia, Jap贸n, Latinoam茅rica y las regiones de mercados en desarrollo, y se帽ala que no existen acuerdos, relaciones familiares o transacciones relacionadas que requieran divulgaci贸n en relaci贸n con su nombramiento.
OpenText電� 歃夑皝鞝侅澑 瓴届榿歆� 甑愳泊毳� 氚滍憸頄堨姷雼堧嫟. James McGourlay臧� 鞛勳嫓 斓滉碃瓴届榿鞛�搿� 鞛勲獏霅橃棃瓿� Mark J. Barrenechea電� CEO, Chief Technology Officer 氚� 攵�須岇灔(Vice Chairman) 歆侅棎靹� 歃夓嫓 鞝勴櫂霅橃棃鞀惦媹雼�. 鞚挫偓須岆姅 P. Thomas Jenkins毳� Executive Chair 瓴� Chief Strategy Officer搿� 歆�氇呿晿瓿� 鞝勴櫂 旮瓣皠 霃欖晥 毽崝鞁潉 歆�鞗愴晿旮� 鞙勴暣 歆戫枆鞙勳洂須岆ゼ 甑劚頄堨姷雼堧嫟. 鞙勳洂須� 甑劚鞗愳潃 Jenkins(鞙勳洂鞛�), McGourlay(鞛勳嫓 CEO), Paul Duggan, Todd Cione, Cosmin Balota(鞛勳嫓 CFO 氚� Chief Accounting Officer) 氚� Michael Acedo鞛呺媹雼�.
鞚挫偓須岆姅 霕愴暅 David Fraser 鞓堧箘鞐� 靻岇灔(Major-General (Ret.))鞚� 霃呺鞝侅澑 Lead Director搿� 歆�氇呿晿瓿�, 霃呺 鞚挫偓霌る 甑劚霅� CEO 瓴�靸夓渼鞗愴殞毳� 甑劚頃橃棳 欤检殧 鞛勳洂 靹滌箻 須岇偓毳� 靹犾瀯頃� 雼れ潓 CEO毳� 彀眷潉 鞓堨爼鞛呺媹雼�. 鞝滌稖 氍胳劀鞐愲姅 McGourlay臧� 2021雲勲秬韯� Executive Vice President, International Sales搿� 鞛頃橂┌ 鞎勳嫓鞎�, 鞚茧掣, 霛柬嫶鞎勲⿺毽勾 氚� 鞁犿潵 鞁滌灔 歆�鞐棎靹� 鞓侅梾鞚� 齑濌磩頄堧嫟瓿� 旮办灛霅橃柎 鞛堨溂氅�, 攴胳潣 鞛勲獏瓿� 甏�霠晿鞐� 瓿店皽頃挫暭 頃� 頃╈潣, 臧�臁� 甏�瓿� 霕愲姅 甏�霠� 瓯半灅電� 鞐嗠嫟瓿� 氇呾嫓頃橁碃 鞛堨姷雼堧嫟.
OpenText a annonc茅 une transition imm茅diate de la direction ex茅cutive : James McGourlay a 茅t茅 nomm茅 Directeur g茅n茅ral par int茅rim et Mark J. Barrenechea a 茅t茅 d茅mis de ses fonctions de CEO, Chief Technology Officer et Vice Chairman, avec effet imm茅diat. Le conseil a d茅sign茅 P. Thomas Jenkins comme Executive Chair et Chief Strategy Officer et a mis en place un comit茅 ex茅cutif pour soutenir la direction pendant la transition ; les membres sont Jenkins (pr茅sident), McGourlay (CEO par int茅rim), Paul Duggan, Todd Cione, Cosmin Balota (CFO par int茅rim et Chief Accounting Officer) et Michael Acedo.
Le conseil a 茅galement nomm茅 le Major-General (Ret.) David Fraser en tant que Lead Director ind茅pendant et a form茅 un comit茅 de recherche du CEO compos茅 d'administrateurs ind茅pendants qui mandaterez une grande soci茅t茅 de recherche de dirigeants pour identifier le prochain CEO de l'entreprise. Le dossier indique que M. McGourlay a pr茅c茅demment occup茅 le poste d'Executive Vice President, International Sales depuis 2021, pilotant les ventes en Asie, au Japon, en Am茅rique latine et dans les r茅gions des march茅s 茅mergents, et pr茅cise qu'il n'existe aucun accord, lien familial ou transaction li茅e devant 锚tre divulgu茅 au sujet de sa nomination.
OpenText hat einen sofortigen Wechsel in der Gesch盲ftsf眉hrung angek眉ndigt: James McGourlay wurde zum Interims- Chief Executive Officer ernannt, und Mark J. Barrenechea wurde mit sofortiger Wirkung von seinen Aufgaben als CEO, Chief Technology Officer und Vice Chairman entbunden. Der Vorstand ernannte P. Thomas Jenkins zum Executive Chair und Chief Strategy Officer und richtete ein Exekutivkomitee ein, das die F眉hrung w盲hrend der 脺bergangsphase unterst眉tzen soll; Mitglieder sind Jenkins (Vorsitz), McGourlay (Interims-CEO), Paul Duggan, Todd Cione, Cosmin Balota (Interims-CFO & Chief Accounting Officer) und Michael Acedo.
Der Vorstand benannte au脽erdem Major-General (Ret.) David Fraser zum unabh盲ngigen Lead Director und bildete ein CEO-Suchkomitee aus unabh盲ngigen Direktoren, das eine f眉hrende Executive-Search-Firma beauftragen wird, um den n盲chsten CEO des Unternehmens zu finden. Die Einreichung weist darauf hin, dass McGourlay seit 2021 als Executive Vice President, International Sales t盲tig war und den Vertrieb in Asien, Japan, Lateinamerika sowie in aufstrebenden M盲rkten leitete, und stellt fest, dass es keine Vereinbarungen, famili盲ren Beziehungen oder damit zusammenh盲ngenden Transaktionen gibt, die im Zusammenhang mit seiner Ernennung offengelegt werden m眉ssten.
- Internal interim CEO appointment (James McGourlay) maintains continuity in international sales leadership
- Executive Committee formed with cross-functional senior executives to support transition
- Board formed CEO Search Committee and will retain a leading executive search firm, indicating a formal selection process
- No related-party arrangements or family relationships reported for the interim CEO appointment
- Chief Executive role transitioned from Mark J. Barrenechea effective immediately, representing a material leadership change
- Interim leadership in place until the CEO Search Committee completes the search, leaving the permanent CEO position open
Insights
TL;DR: Board executed an orderly leadership transition with internal interim appointments and governance steps to maintain continuity.
The Board鈥檚 actions鈥攁ppointing an internal interim CEO, elevating the former Chair to Executive Chair/Chief Strategy Officer, creating an Executive Committee and naming an independent Lead Director鈥攔eflect a structured governance response to a leadership change. Establishing a CEO Search Committee and engaging an external search firm indicates the Board intends a formal, independent selection process. The filing鈥檚 explicit note of no related-party arrangements for the interim CEO reduces immediate governance risk related to conflicts of interest.
TL;DR: Internal interim appointment preserves sales leadership continuity while the Board conducts a formal CEO search.
Promoting James McGourlay, who led international sales since 2021, suggests the Board prioritized continuity in customer-facing operations and international markets. The Executive Committee composition spans sales, customer operations, finance and legal functions, providing cross-functional interim leadership. The explicit plan to retain a leading executive search firm signals a conventional approach to selecting a permanent CEO rather than an immediate external hiring without a competitive search.
OpenText ha annunciato una transizione immediata della leadership esecutiva: James McGourlay 猫 stato nominato Amministratore Delegato ad interim e Mark J. Barrenechea 猫 stato rimosso dai suoi ruoli di CEO, Chief Technology Officer e Vice Chairman, con effetto immediato. Il Consiglio ha designato P. Thomas Jenkins come Executive Chair e Chief Strategy Officer e ha istituito un Comitato Esecutivo per supportare la dirigenza durante la transizione; i membri sono Jenkins (Presidente), McGourlay (CEO ad interim), Paul Duggan, Todd Cione, Cosmin Balota (CFO ad interim e Chief Accounting Officer) e Michael Acedo.
Il Consiglio ha inoltre nominato il Maggiore Generale (in pensione) David Fraser come Lead Director indipendente e ha costituito un Comitato per la ricerca del CEO composto da amministratori indipendenti che incaricher脿 una primaria societ脿 di ricerca per individuare il prossimo CEO dell鈥檃zienda. Il documento segnala che McGourlay ha ricoperto in precedenza la carica di Executive Vice President, International Sales dal 2021, guidando le vendite in Asia, Giappone, America Latina e nelle regioni dei mercati in sviluppo, e specifica che non esistono accordi, rapporti familiari o transazioni correlate che richiedano divulgazione in relazione alla sua nomina.
OpenText anunci贸 una transici贸n inmediata en el liderazgo ejecutivo: James McGourlay fue nombrado Consejero Delegado interino y Mark J. Barrenechea fue relevado de sus cargos como CEO, Chief Technology Officer y Vice Chairman, con efecto inmediato. La Junta design贸 a P. Thomas Jenkins como Executive Chair y Chief Strategy Officer y cre贸 un Comit茅 Ejecutivo para apoyar al equipo directivo durante la transici贸n; los miembros son Jenkins (Presidente), McGourlay (CEO interino), Paul Duggan, Todd Cione, Cosmin Balota (CFO interino y Chief Accounting Officer) y Michael Acedo.
La Junta tambi茅n nombr贸 al Mayor General (Ret.) David Fraser como Lead Director independiente y constituy贸 un Comit茅 de B煤squeda del CEO formado por directores independientes que contratar谩 a una destacada firma de b煤squeda de ejecutivos para identificar al pr贸ximo CEO de la compa帽铆a. La presentaci贸n indica que McGourlay se desempe帽贸 anteriormente como Executive Vice President, International Sales desde 2021, liderando las ventas en Asia, Jap贸n, Latinoam茅rica y las regiones de mercados en desarrollo, y se帽ala que no existen acuerdos, relaciones familiares o transacciones relacionadas que requieran divulgaci贸n en relaci贸n con su nombramiento.
OpenText電� 歃夑皝鞝侅澑 瓴届榿歆� 甑愳泊毳� 氚滍憸頄堨姷雼堧嫟. James McGourlay臧� 鞛勳嫓 斓滉碃瓴届榿鞛�搿� 鞛勲獏霅橃棃瓿� Mark J. Barrenechea電� CEO, Chief Technology Officer 氚� 攵�須岇灔(Vice Chairman) 歆侅棎靹� 歃夓嫓 鞝勴櫂霅橃棃鞀惦媹雼�. 鞚挫偓須岆姅 P. Thomas Jenkins毳� Executive Chair 瓴� Chief Strategy Officer搿� 歆�氇呿晿瓿� 鞝勴櫂 旮瓣皠 霃欖晥 毽崝鞁潉 歆�鞗愴晿旮� 鞙勴暣 歆戫枆鞙勳洂須岆ゼ 甑劚頄堨姷雼堧嫟. 鞙勳洂須� 甑劚鞗愳潃 Jenkins(鞙勳洂鞛�), McGourlay(鞛勳嫓 CEO), Paul Duggan, Todd Cione, Cosmin Balota(鞛勳嫓 CFO 氚� Chief Accounting Officer) 氚� Michael Acedo鞛呺媹雼�.
鞚挫偓須岆姅 霕愴暅 David Fraser 鞓堧箘鞐� 靻岇灔(Major-General (Ret.))鞚� 霃呺鞝侅澑 Lead Director搿� 歆�氇呿晿瓿�, 霃呺 鞚挫偓霌る 甑劚霅� CEO 瓴�靸夓渼鞗愴殞毳� 甑劚頃橃棳 欤检殧 鞛勳洂 靹滌箻 須岇偓毳� 靹犾瀯頃� 雼れ潓 CEO毳� 彀眷潉 鞓堨爼鞛呺媹雼�. 鞝滌稖 氍胳劀鞐愲姅 McGourlay臧� 2021雲勲秬韯� Executive Vice President, International Sales搿� 鞛頃橂┌ 鞎勳嫓鞎�, 鞚茧掣, 霛柬嫶鞎勲⿺毽勾 氚� 鞁犿潵 鞁滌灔 歆�鞐棎靹� 鞓侅梾鞚� 齑濌磩頄堧嫟瓿� 旮办灛霅橃柎 鞛堨溂氅�, 攴胳潣 鞛勲獏瓿� 甏�霠晿鞐� 瓿店皽頃挫暭 頃� 頃╈潣, 臧�臁� 甏�瓿� 霕愲姅 甏�霠� 瓯半灅電� 鞐嗠嫟瓿� 氇呾嫓頃橁碃 鞛堨姷雼堧嫟.
OpenText a annonc茅 une transition imm茅diate de la direction ex茅cutive : James McGourlay a 茅t茅 nomm茅 Directeur g茅n茅ral par int茅rim et Mark J. Barrenechea a 茅t茅 d茅mis de ses fonctions de CEO, Chief Technology Officer et Vice Chairman, avec effet imm茅diat. Le conseil a d茅sign茅 P. Thomas Jenkins comme Executive Chair et Chief Strategy Officer et a mis en place un comit茅 ex茅cutif pour soutenir la direction pendant la transition ; les membres sont Jenkins (pr茅sident), McGourlay (CEO par int茅rim), Paul Duggan, Todd Cione, Cosmin Balota (CFO par int茅rim et Chief Accounting Officer) et Michael Acedo.
Le conseil a 茅galement nomm茅 le Major-General (Ret.) David Fraser en tant que Lead Director ind茅pendant et a form茅 un comit茅 de recherche du CEO compos茅 d'administrateurs ind茅pendants qui mandaterez une grande soci茅t茅 de recherche de dirigeants pour identifier le prochain CEO de l'entreprise. Le dossier indique que M. McGourlay a pr茅c茅demment occup茅 le poste d'Executive Vice President, International Sales depuis 2021, pilotant les ventes en Asie, au Japon, en Am茅rique latine et dans les r茅gions des march茅s 茅mergents, et pr茅cise qu'il n'existe aucun accord, lien familial ou transaction li茅e devant 锚tre divulgu茅 au sujet de sa nomination.
OpenText hat einen sofortigen Wechsel in der Gesch盲ftsf眉hrung angek眉ndigt: James McGourlay wurde zum Interims- Chief Executive Officer ernannt, und Mark J. Barrenechea wurde mit sofortiger Wirkung von seinen Aufgaben als CEO, Chief Technology Officer und Vice Chairman entbunden. Der Vorstand ernannte P. Thomas Jenkins zum Executive Chair und Chief Strategy Officer und richtete ein Exekutivkomitee ein, das die F眉hrung w盲hrend der 脺bergangsphase unterst眉tzen soll; Mitglieder sind Jenkins (Vorsitz), McGourlay (Interims-CEO), Paul Duggan, Todd Cione, Cosmin Balota (Interims-CFO & Chief Accounting Officer) und Michael Acedo.
Der Vorstand benannte au脽erdem Major-General (Ret.) David Fraser zum unabh盲ngigen Lead Director und bildete ein CEO-Suchkomitee aus unabh盲ngigen Direktoren, das eine f眉hrende Executive-Search-Firma beauftragen wird, um den n盲chsten CEO des Unternehmens zu finden. Die Einreichung weist darauf hin, dass McGourlay seit 2021 als Executive Vice President, International Sales t盲tig war und den Vertrieb in Asien, Japan, Lateinamerika sowie in aufstrebenden M盲rkten leitete, und stellt fest, dass es keine Vereinbarungen, famili盲ren Beziehungen oder damit zusammenh盲ngenden Transaktionen gibt, die im Zusammenhang mit seiner Ernennung offengelegt werden m眉ssten.
FAQ
What change did OpenText (OTEX) report in the 8-K?
Who has been named Executive Chair and Chief Strategy Officer at OpenText (OTEX)?
Did the OpenText Board create any committees related to the leadership change?
What is James McGourlay鈥檚 background per the filing?
Are there any related-party transactions or arrangements disclosed for the interim CEO?
