OpenText™ (NASDAQ: OTEX) has announced the appointment of Chadwick Westlake as the new Executive Vice President and Chief Financial Officer, effective March 5, 2025. Westlake succeeds Madhu Ranganathan and brings a wealth of experience from his previous role as the CFO of EQB Inc., a leading digital financial services company.
During his time at EQB Inc., Westlake led corporate strategy and development, financial management, and process improvement. Prior to this, he held various positions at Scotiabank, including his last role as Executive Vice President of Enterprise Productivity & Canadian Banking Finance.
OpenText's CEO and CTO, Mark J. Barrenechea, expressed confidence in Westlake's ability to drive the company's next phase of growth and scale, citing his experience in driving profitable growth, strategic operations, and shareholder value creation.
Westlake expressed excitement about joining OpenText during a defining time for the company, emphasizing the company's clear global operating model and winning focus on exceptional customer experiences. He looks forward to driving efficiencies across the business to deliver a strong fiscal 2026 and beyond.
Barrenechea also acknowledged Madhu Ranganathan for her seven years of service to OpenText and expressed gratitude for her transition support alongside the senior finance team members.
This appointment comes as OpenText reinforces its top priorities on total revenue growth, increasing competitive advantage, margin and free cash flow expansion, and upper quartile capital returns.
The financial community will be closely watching for the impact of Westlake's appointment on the company's financial performance and strategic initiatives in the coming quarters. The market has reacted to these announcements by moving the company's shares 0.7% to a price of $26.94. For more information, read the company's full 8-K submission here.
