Will they wait for May-June when the first carve out is announced?
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If you were hoping to hear Duggan lay out a vision for the future, the November call was a disappointment, maybe he’ll give insight on the future on the February 5th call. The Board has effectively put the "Presidents" back in their operational boxes while the Search Committee does its work.
here is the current status of the search and what is happening behind the scenes:
The Current Status
• Interim Leader: James McGourlay (formerly EVP of International Sales) is still running the day-to-day operations.
• Search Committee: A formal search committee was established in August 2025, led by independent directors David Fraser, Bob Hau, Goldy Hyder, and Kristen Ludgate. They are working with executive search firms to vet external candidates.
• Timeline: A global CEO search for a company of this size ($6B+ revenue) typically takes 6 to 9 months. Since the search began in August 2025, we are currently in Month 5.
• Expectation: It would be standard to see an announcement between February and May 2026.Why the Delay? (The "Clean Up" Theory)
Internal chatter and analyst speculation suggest the board is intentionally waiting.
• The "Bad Cop" Strategy: The company is currently executing painful cuts (the "Business Optimization Plan") and selling off assets (eDOCS, etc.). It is often strategic to let an Interim CEO handle the unpopular "cleanup" work so the new Permanent CEO can start fresh with a clean balance sheet and better margins, rather than immediately having to fire people.
• The Micro Focus Baggage: The board needs a candidate willing to take on the massive debt load from the Micro Focus acquisition. Finding a top-tier tech CEO willing to step into a "debt management" role is harder than finding one for a "growth" role.Rumor Mill: Who is Next?
There are no confirmed front-runners, but three profiles are being discussed:
• The Internal Candidate: Todd Cione (President of Worldwide Sales) is the most visible internal alternative to McGourlay if they want a "sales-led" culture. However, the board's decision to look externally suggests they want a fresh perspective.
• The "PE" Candidate: Speculation persists that the board might hire a CEO with a Private Equity background to prep the company for a potential take-private deal or a breakup of the company (splitting Enterprise vs. SMB).
• The "Tech Visionary": Investors are clamoring for a product-focused CEO to fix the "identity crisis" (Are we AI? Security? Content?), but the current cost-cutting focus makes this less likely than a financial operator.- What to Watch For
• Q2 Earnings Call (February 5th): If a new CEO is close to being signed, they often time the announcement to coincide with or immediately precede the quarterly earnings call to reassure investors.
• The "Executive Chair" Role: Tom Jenkins (OpenText's original architect) stepped back in as Executive Chair and Chief Strategy Officer. As long as he is heavily involved, there is less urgency to rush a CEO appointment because he effectively acts as the strategic "shadow CEO."
Summary: For now, James McGourlay is the boss. If you are waiting for a strategic pivot, don't expect it until at least Spring 2026.
@e6 new CEO will be announced on July 1st not January 1st. But between now and then, they will announce the non-core product lines that will be sold to other IT companies or private equity firms. The new CEO in FY27 will be in charge of selling OpenText to a private equity firm so the company can focus on getting back to investing in the core products without needing to try to appease Wall Street claiming we are all in with AI.
Yes as the divested ones will join s new company and have a chance to forge a career there
They said end of year for new CEO announcement, so have a few more hours, however it doesn't look good that is not been announced.
Mark's been gone since early August, to be honest I think if you are part of the 25% to be divested you are the lucky ones!
@ba Please allow us leeway
Regarding the ELT and CEO, Don’t uphold gestalt, get all new!!!!!
@ba the people that want the job are internal but the people who deserve the job (having any chance of being successful) are external.
No CEO in 2026 as no one will take this rotten job
@a1 Seriously, that is some odd behavior. Like a resident troll, only lacking imagination. I predict ~36 hours.
Anxiously waiting on the paul duggan fanboi homunculi to chime in