We’ll see if Ayman is on the earnings call. The street needs to hear some someone with a spine.
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its not the choice its the fact of the delay. it'll rebound if we have good results
Even with latest divestiture announcement today Feb 2nd. The share price is down 22% over the last 30 days!
@av everyone will be going elsewhere. The question is how? Do you leave? Do you get layed off? Do you move via an acquisition? I don't see “OpenText” existing in 3 years.
@av who is charge is strategy…..that’s hilarious…they can’t even spell strategy
He’ll probably hire a "Chief Transformation Officer" or a new "Head of Professional Services" from his IBM network to turn OpenText into more of a consultancy/service provider rather than just a software vendor. And expect announcements in May/June regarding a new head of Services or Cloud, likely an Antoun loyalist.
so how many people will let go by April?
The Public Reason: "CEO Uncertainty"
The primary driver for today's drop is the announcement of Ayman Antoun as the new CEO. The "Lame Duck" Gap. Investors generally dislike long transition periods. Antoun does not start until April 20, 2026. This leaves the company with an Interim CEO (James McGourlay) for another full quarter, creating uncertainty about who is actually in charge of strategy right now. Track Record. While Antoun has a strong IBM background, the market is reacting to the lack of immediate clarity on how he will reverse the stock's 16% year-to-date decline. The drop likely reflects a deeper instability that the market is sensing, even if they don't have the full details yet. The "Interim" CEO is making massive, permanent changes today rather than waiting for the new leader. The sudden departure of the Chief Product Officer (which you saw in the internal email) is a major red flag. It suggests a broken product strategy. If the market gets wind that the CPO "left today" right before earnings, it signals that the upcoming Q2 numbers (releasing Feb 5) might be weak or that the product roadmap has failed. The aggressive "4-day" and then "5-day" Return-to-Office mandate is often used by companies to force "soft layoffs" (getting employees to quit voluntarily to avoid severance costs). Investors may interpret this as a desperate move to cut costs before the new fiscal year. OpenText releases its Q2 2026 Earnings next Thursday, February 5. Companies rarely announce a new CEO one week before earnings unless they want to get ahead of bad news. The market likely suspects that next week's earnings report will be "messy" (restructuring charges, missed targets), and the Board announced Antoun today to distract from the upcoming numbers. The market sees a company in turmoil. They see a new CEO who isn't there yet, an Interim CEO firing executives and mandating office returns, and an earnings report looming next week. Investors are selling now to avoid the potential volatility of the February 5th report.
I guess hiring the laid off CFO from blackberry wasn’t enough
We just get the bottom of the barrel execs
Yes, ex laid off IBM guy isn't the answer
Get rid of a crusty old tu-d for a brand new shiny tu-d? The market knows they are just staring at a toilet bowl, what do you expect.