OpenText Appoints New CEO to Drive Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 23h ago
0mins
Source: PRnewswire
- New CEO Appointment: OpenText has appointed Ayman Antoun as the new Chief Executive Officer effective April 20, 2026, bringing over 30 years of experience in the IT industry, particularly in cloud computing and digital modernization, which is expected to drive growth in the company's core business.
- Leadership Transition: Antoun succeeds James McGourlay as CEO, who will remain within the Executive Leadership Team, with the Board expressing confidence that Antoun will enhance shareholder value through his leadership.
- Clear Strategic Direction: The Board conducted a thorough evaluation in selecting the new CEO, and Antoun's extensive experience in cloud and digital transformation positions him as the ideal candidate to advance the company's leadership in enterprise AI, aligning with its strategic direction.
- Strong Industry Background: Antoun has held multiple executive roles at IBM, including President of IBM Americas, overseeing complex operations, and has also served as Senior Vice President at Bell Canada, providing him with a broad international network that will aid OpenText's global expansion.
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Analyst Views on OTEX
Wall Street analysts forecast OTEX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OTEX is 39.11 USD with a low forecast of 35.00 USD and a high forecast of 50.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
1 Buy
8 Hold
0 Sell
Hold
Current: 27.380
Low
35.00
Averages
39.11
High
50.00
Current: 27.380
Low
35.00
Averages
39.11
High
50.00
About OTEX
Open Text Corporation is a Canada-based information management company, which provides software and services. Its comprehensive Information Management platform and services provide secure and scalable solutions for global companies, small and medium-sized businesses (SMBs), governments and consumers around the world. It has a complete and integrated portfolio of information management solutions delivered at scale in the OpenText Cloud, enabling organizations master modern work, automate application delivery and modernization, and optimize their digital supply chains by bringing together content cloud, cybersecurity cloud, business network cloud, information technology (IT) operations management cloud, application modernization cloud and analytics cloud. It also accelerates information modernization with intelligent tools and services for moving off paper, automating classification and building clean data lakes for Artificial Intelligence (AI), analytics and automation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
OpenText Appoints Ayman Antoun as CEO Effective April 2026
- New CEO Appointment: OpenText announced Ayman Antoun will become CEO and board member effective April 20, 2026, bringing extensive industry experience from his previous role as president of IBM Americas.
- Stock Price Increase: Following the announcement, OTEX shares rose 0.77% in pre-market trading to $27.59, indicating a positive market reaction to the new leadership.
- Transition Management: Antoun succeeds interim CEO James McGourlay, who will transition to another role within the executive leadership team, ensuring stability during the leadership change.
- Board Structure Adjustment: Executive Chair and Chief Strategy Officer P. Thomas Jenkins will return as board chair, further solidifying the company's governance structure and continuity in strategic direction.
Continue Reading
OpenText Appoints New CEO to Drive Growth
- New CEO Appointment: OpenText has appointed Ayman Antoun as the new Chief Executive Officer effective April 20, 2026, bringing over 30 years of experience in the IT industry, particularly in cloud computing and digital modernization, which is expected to drive growth in the company's core business.
- Leadership Transition: Antoun succeeds James McGourlay as CEO, who will remain within the Executive Leadership Team, with the Board expressing confidence that Antoun will enhance shareholder value through his leadership.
- Clear Strategic Direction: The Board conducted a thorough evaluation in selecting the new CEO, and Antoun's extensive experience in cloud and digital transformation positions him as the ideal candidate to advance the company's leadership in enterprise AI, aligning with its strategic direction.
- Strong Industry Background: Antoun has held multiple executive roles at IBM, including President of IBM Americas, overseeing complex operations, and has also served as Senior Vice President at Bell Canada, providing him with a broad international network that will aid OpenText's global expansion.
Continue Reading