OpenText Expands Leadership with the Appointment of Steve Rai as CFO

OpenText Welcomes Steve Rai as New Executive Vice President and Chief Financial Officer

OpenText Corporation, a prominent figure in secure information management for AI, has named Steve Rai as its new Executive Vice President and Chief Financial Officer (CFO), effective October 6, 2025. This strategic appointment comes as OpenText aims to strengthen its executive team and enhance its financial positioning in the competitive landscape of business technology.

With over 30 years of global finance experience, Steve Rai is recognized as a veteran in the technology sector. His career includes significant roles in major technology firms, including his recent position as CFO of BlackBerry Limited, where he played a crucial role in reshaping the company's financial strategy amidst transformative changes in technology and operations. Prior to his tenure at BlackBerry, Rai held key senior finance roles at PMC-Sierra and PricewaterhouseCoopers LLP, further cementing his reputation in the industry.

According to James McGourley, interim CEO of OpenText, Rai’s extensive background in finance and operations is expected to be instrumental in guiding the company's next phase of growth. He expressed enthusiasm about Rai joining the team, indicating that his leadership will be vital in navigating OpenText's strategic vision moving forward, particularly in the context of the ongoing advancements in AI technologies.

Rai himself shared his excitement about joining OpenText during a pivotal moment for the organization. He expressed that the company’s commitment to empowering businesses through secure information management is transformational, especially at a time when AI is increasingly becoming an integral part of organizational strategies.

A graduate of Simon Fraser University in British Columbia, Canada, Rai holds a Bachelor’s degree in Business Administration, majoring in accounting and finance. Additionally, he is a Certified Public Accountant with memberships in both the American Institute of Certified Public Accountants and Chartered Professional Accountants of British Columbia. These qualifications enhance his credibility and prowess in managing OpenText's financial operations effectively.

As Steve Rai steps into his new role, he is expected to leverage his rich experience to drive growth and innovation at OpenText, enabling the company to maintain its leadership in the AI-driven business technology sector. His appointment follows the tenure of Cosmin Balota, who served as Interim CFO for two months. McGourley extended his gratitude towards Balota for his support during the transition back to his role as Chief Accounting Officer.

OpenText is recognized not only for its innovative technology solutions but also for its commitment to maintaining user trust through secure information management. The company provides a wide range of services aimed at fostering organizational growth and efficiency while ensuring safety and security in data management.

As firms increasingly seek solutions that integrate AI with efficient information management systems, Rai's leadership will be crucial in shaping the future of OpenText. His extensive experience in the technology sector and proven track record will undoubtedly contribute to bolstering OpenText's market position and operational effectiveness.

With the evolving landscape of business technologies, OpenText appears well-prepared to tackle the challenges ahead with Rai at the financial helm, marking a significant step in its journey toward fortifying its strategic objectives in the ever-competitive AI market.

For more information about OpenText and its suite of innovative solutions, please visit OpenText's website.