OpenText Announces Voting Results for Election of Directors
Rhea-AI Summary
OpenText (NASDAQ: OTEX, TSX: OTEX) held its annual meeting of shareholders virtually on September 12, 2024. Shareholders representing 82.60% of outstanding common shares were present or represented by proxy. The meeting resulted in the re-election of ten directors to serve until the next annual meeting. Notable voting results include:
- Mark J. Barrenechea received the highest approval at 96.76%
- Robert Hau received near-unanimous support with 99.69% votes in favor
- David Fraser faced the most opposition with 14.54% votes against
Ann M. Powell decided not to stand for re-election. The company filed detailed voting results on SEDAR+ and EDGAR.
Positive
- High shareholder participation with 82.60% of outstanding shares represented
- Strong support for most directors, with 9 out of 10 receiving over 90% approval
- Near-unanimous support for Robert Hau with 99.69% votes in favor
Negative
- David Fraser faced significant opposition with 14.54% votes against
- Ann M. Powell's decision not to stand for re-election could indicate potential board instability
On a vote by ballot, the following nominees were elected as a director of OpenText to serve until the next annual meeting of shareholders of OpenText or until their successors are duly elected or appointed:
Votes For | Votes Against | |||
P. Thomas Jenkins | 206,137,984 | 94.24 % | 12,605,255 | 5.76 % |
Mark J. Barrenechea | 211,660,325 | 96.76 % | 7,082,913 | 3.24 % |
Randy Fowlie | 203,860,433 | 93.20 % | 14,882,806 | 6.80 % |
David Fraser | 186,932,481 | 85.46 % | 31,810,756 | 14.54 % |
Robert Hau | 218,061,192 | 99.69 % | 682,046 | 0.31 % |
Goldy Hyder | 209,812,162 | 95.92 % | 8,931,077 | 4.08 % |
Annette Rippert | 209,849,059 | 95.93 % | 8,894,180 | 4.07 % |
Stephen J. Sadler | 208,584,252 | 95.36 % | 10,158,988 | 4.64 % |
Katharine B. Stevenson | 212,679,811 | 97.23 % | 6,063,427 | 2.77 % |
Deborah Weinstein | 200,491,634 | 91.66 % | 18,251,604 | 8.34 % |
Prior to the Meeting, Ann M. Powell informed the Company of her decision not to stand for election as a director at the Meeting. The Board thanks Ms. Powell for her years of valuable service.
The results of other matters considered at the Meeting are reported in the Report of Voting Results as filed on SEDAR+ (https://www.sedarplus.ca) and Open Text's Form 8-K filed on EDGAR (https://www.sec.gov), each of which will be filed on or about September 12, 2024.
About OpenText
OpenText™ is the leading Information Management software and services company in the world. We help organizations solve complex global problems with a comprehensive suite of Business Clouds, Business AI, and Business Technology. For more information about OpenText (NASDAQ/TSX: OTEX), please visit us at www.opentext.com.
OTEX-F
Copyright ©2024 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved. For more information, visit: http://www.opentext.com/who-we-are/copyright-information.
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SOURCE Open Text Corporation
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