OpenText CFO to Become CEO at EQB

By Philip Seaworth • Thursday, July 10 06:01 • Permanent Link

OpenText Corporation has announced that Chadwick Westlake will be stepping down as the Executive Vice President and Chief Financial Officer to assume the role of President and Chief Executive Officer at his former employer, EQB, following the unexpected passing of its CEO. Mr. Westlake's departure will be effective on August 15, 2025, post-completion of OpenText's fiscal year-end reporting. The company has initiated a comprehensive search for a long-term successor.

In the meantime, Cosmin Balota, OpenText's Senior Vice President and Chief Accounting Officer, will serve as the interim CFO. OpenText CEO and CTO Mark J. Barrenechea expressed appreciation for Westlake's contributions and congratulated him on his new role. He also extended condolences to the family and colleagues of Andrew Moor, President and CEO of EQB, on his recent unexpected passing.

OpenText has reported strong preliminary fourth-quarter fiscal year 2025 revenue expectations of approximately US$1.31 billion. The company will release its full financial results for the fourth quarter fiscal year 2025 after the close of the market on Thursday, August 7, 2025.

Mark J. Barrenechea, together with Chadwick Westlake, Paul Duggan, Todd Cione, and Cosmin Balota, will host an earnings call webcast at 8:30 a.m. ET on Friday, August 8, 2025, from the OpenText investor relations website. The company expressed its pleasure with the strong fourth-quarter revenue expectations and thanked its customers for their continued trust. The earnings call webcast is scheduled to last for 60 minutes.

OpenText is a leading information management software and services company, providing solutions to solve complex global problems with a comprehensive suite of business clouds, business AI, and business technology. Today the company's shares have moved -4.31% to a price of $28.89. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.