Big changes at OpenText. The Waterloo software giant has ousted CEO Mark Barrenechea after 12 years, naming sales exec James McGourlay interim chief. Alongside the shake-up, the company is exploring asset sales to double down on “information management for AI.”
The move comes days after earnings: US$436M profit on US$5.17B revenue, both down after the mainframe-modernization unit sale. Barrenechea led the shift to subscription cloud services and blockbuster deals like the US$6B Micro Focus acquisition in 2022. Now, the board’s betting AI will fuel the next chapter.
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