Former CGI CEO George Schindler joins OpenText board of directors

WATERLOO, ON - OpenText Corporation (NASDAQ:OTEX), (TSX:OTEX), a technology company with impressive 76% gross profit margins and a market capitalization of $9.6 billion, announced Monday the appointment of George Schindler to its board of directors. Schindler previously served as President and Chief Executive Officer of CGI Inc. from 2016 to 2024, where he led the company’s profitable growth strategy.

"I am very pleased to welcome George to the OpenText Board," said Tom Jenkins, Executive Chair of the Board, in a press release statement. Jenkins noted that Schindler’s experience as a former CEO would bring "another valuable perspective to the Board" as the company focuses on its Information Management for AI business. According to InvestingPro analysis, OpenText has demonstrated strong financial health with consistent dividend payments for 13 consecutive years.

Prior to his role as CEO, Schindler served as President and Chief Operating Officer of CGI from 2015 to 2016 and as President of United States and Canada Operations from 2011 to 2015. He currently serves as a member of CGI’s board of directors.

Schindler has been recognized as a Top 100 Leader by Federal Computer Week on two occasions. He holds a Bachelor of Science degree in Computer Science from Purdue University.

OpenText describes itself as a Cloud and AI company that provides organizations with Business AI, Business Clouds, and Business Technology solutions through Information Management. The company’s stock has shown remarkable strength, gaining 60% over the past six months, and InvestingPro data suggests the stock is currently undervalued. For deeper insights into OpenText’s performance and potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, OpenText Corporation announced a definitive agreement to sell its eDOCS solution to NetDocuments for $163 million in cash. This divestiture is part of OpenText’s strategy to focus on core operations and will aid in reducing its outstanding debt. The eDOCS business generated approximately $30 million in annual revenue during the fiscal year ending June 30, 2025. Additionally, OpenText appointed Steve Rai as the new Executive Vice President and Chief Financial Officer, effective October 6, 2025. Rai brings over 30 years of global finance experience, previously serving as CFO at BlackBerry Limited.

In collaboration with Fiserv, OpenText also launched Content Next, an AI-powered content management solution aimed at financial institutions. This platform is designed to streamline operations by automating content workflows and enhancing governance. On the analyst front, Scotiabank upgraded OpenText from Sector Perform to Sector Outperform, citing strength in the company’s Content Management business. National Bank Financial also upgraded OpenText’s stock rating to Outperform after discussions with the company’s Executive Chair and Chief Strategy Officer.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.