OpenText this week announced that it has replaced Mark Barrenechea as CEO, appointing James McGourlay, currently executive vice president of international sales, as as interim chief executive officer.
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.” OpenText has grown by acquisition but struggled to achieve organic growth, and its revenue for fiscal year 2025 fell by 10.4% to $5.17bn.
“After a thorough review of the business and its performance, and as we look ahead to the Company’s future, the Board believes there is an opportunity to enhance shareholder value by growing revenue in our core Information Management for AI business and redeploying capital from the non-core assets,” said Thomas Jenkins, executive chair of the board and chief strategy officer. “On behalf of the board, I thank Mark for 13 years of dedicated service at OpenText and we wish him the best. Now is the right time for this leadership transition, and James is the ideal leader to serve as Interim CEO. I look forward to working with him and our executive leadership team to ensure that OpenText continues to advance its strategy.”
“I believe in the opportunities ahead for OpenText and will work diligently in the CEO role on an interim basis,” said Mr. McGourlay, Interim CEO. “With the company’s business optimization plan well underway, and given our position at the forefront of Information Management for AI, I am confident that we will continue to innovate across these areas and deliver solutions that power our customers’ businesses.”
Savinay Berry has been named chief technology officer, effective immediately. He previously served as EVP and chief product officer at OpenText.