OpenText CFO Departure and Strong Q4 Revenue Forecast

By Tamara Parker • Wednesday, July 09 15:25 • Permanent Link

OpenText Corporation (NASDAQ: OTEX) (TSX: OTEX) has announced the departure of Chadwick Westlake, the Executive Vice President and Chief Financial Officer, effective August 15, 2025. Westlake will be assuming the President & Chief Executive Officer role at his former employer, EQB, following the unexpected passing of its CEO. The company has initiated a comprehensive search for a long-term successor and in the interim, Cosmin Balota, OpenText’s Senior Vice President and Chief Accounting Officer, will serve as the CFO.

OpenText has reported strong preliminary fourth quarter fiscal year 2025 revenue expectations of approximately US$1.31 billion. The full financial results for the fourth quarter fiscal year 2025 will be released after the close of market on Thursday, August 7, 2025. An earnings call webcast is scheduled for 8:30 a.m. ET on Friday, August 8, 2025, where the company's senior executives will discuss the results.

Following this announcement, it is evident that OpenText is experiencing a period of transition in its leadership team and is set to release strong revenue figures for the fourth quarter of fiscal year 2025. Following these announcements, the company's shares moved -4.31%, and are now trading at a price of $28.89. For the full picture, make sure to review OPEN TEXT CORP's 8-K report.

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