OpenText Named One of the World's Best Companies by TIME Magazine for the Second Consecutive Year

Rhea-AI Summary

OpenText has been named one of the World's Best Companies by TIME Magazine for the second consecutive year. This recognition is based on Employee Satisfaction, Revenue Growth, and Sustainability (ESG). The company has also received several other accolades, including:

• Forbes' World's Best Employers for three consecutive years
• Forbes' World's Top Companies for Women in 2023
• Canada's Best Employers for four years in a row
• Canadian Business Innovation Award in 2024

OpenText's commitment to Diversity, Equity, and Inclusion remains strong. The company recently released its annual Corporate Citizenship Report, highlighting progress on its Zero-In Initiative. Key achievements include affirming commitment to responsible Business AI, prioritizing environmental impact, and reporting over 35,000 employee volunteer hours and $1.45 million in charitable donations in 2024.

Recognition is the latest in a series of leader and employer awards received by the company

WATERLOO, ON, Sept. 12, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today announced that it has been included in the TIME World's Best Companies 2024 ranking. The award, presented by TIME and Statista, identifies top-performing companies across the globe based on three primary dimensions: Employee Satisfaction, Revenue Growth, and Sustainability (ESG). This is the second year in a row that OpenText has been named as one of the World's Best Companies by TIME.

"The OpenText vision is to be the best Information Management company in the world where information elevates every individual and every organization to be their best," said Mark J. Barrenechea, CEO & CTO of OpenText. "On behalf of our employees and customers, we are honored to be recognized by TIME as one of the World's Best Companies and are extremely grateful for those turning our vision a reality."

This acknowledgement from TIME is the latest in a series of accolades awarded to OpenText that distinguishes the company as both a leader and an employer-of-choice. Recent award wins include:

• Recognition by Forbes as one of the World's Best Employers for three consecutive years, including ranking within the top 20% of all global companies in 2023.
• Recognition by Forbes as the World's Top Companies for Women for the first time in 2023, a testament to our unwavering commitment to equity, diversity, and inclusion.
• Being named as one of Canada's Best Employers four years in a row, as well as one of Canada's Best Employers for Diversity by Forbes for two consecutive years.
• Receiving a 2024 Canadian Business Innovation Award as one of Canada's Most Innovative Companies.
• Ranking on the Canada's Top 100 Employers ten times, including in 2024, and ranking for the first time on Canada's Greenest Employers list in 2024.

Innovating for a sustainable, equitable, and inclusive future

"While some corporations are questioning their commitment to Diversity, Equity and Inclusion, OpenText is not," added Barrenechea. "Our culture centers on performance, fairness, and being practical. We strive to unlock the voice and potential in each of our employees, in the context of business, and believe this is essential to be a top innovator and performer."

Last month, OpenText released its annual Corporate Citizenship Report, providing a detailed update on its progress relating to the OpenText Zero-In Initiative, the company's guiding framework to achieving global impact goals related to the company's Environmental, Social, and Governance (ESG) commitments and program.

The report, which covers the company's fiscal year 2024 (July 1, 2023 – June 31, 2024), details the many actions that OpenText is taking to achieve its Zero-In goals relating to Zero Footprint, Zero Barriers, and Zero Compromise. Key highlights from the report include:

• Affirming the company's commitment to responsible Business AI via the OpenText AI Bill of Obligations, as well as becoming one of the first signatories of Canada's Voluntary Code of Conduct on the Responsible Development and Management of Advanced Generative AI Systems.
• Spotlighting the ways in which OpenText continues to prioritize and consider environmental impact on its path towards net-zero, including its commitment to company-wide emissions reduction initiatives that are in line with the Science Based Targets Initiative (SBTi).
• Showcasing the company's continued efforts relating to community impact and volunteerism, reporting more than 35,000 volunteer hours committed by employees in 2024 and over $1.45 million donated to charities around the world in alignment with several of the United Nations Sustainable Development Goals (SDGs).

Learn more about the OpenText Zero-In Initiative, including details on the company's Zero Footprint, Zero Barriers, and Zero Compromise goals, by reading the 2024 Corporate Citizenship Report: https://www.opentext.com/about/corporate-citizenship.

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.

Connect with us:
OpenText CEO Mark Barrenechea's blog
Twitter | LinkedIn

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website (https://investors.opentext.com). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.

Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit https://www.opentext.com/patents.

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SOURCE Open Text Corporation

FAQ

What recognition did OpenText receive from TIME Magazine in 2024?

OpenText (OTEX) was named one of the World's Best Companies by TIME Magazine for the second consecutive year in 2024, based on Employee Satisfaction, Revenue Growth, and Sustainability (ESG).

How many years has OpenText been recognized as one of Canada's Best Employers?

OpenText (OTEX) has been recognized as one of Canada's Best Employers for four consecutive years, as reported in the press release.

What is OpenText's Zero-In Initiative?

OpenText's (OTEX) Zero-In Initiative is the company's guiding framework to achieve global impact goals related to Environmental, Social, and Governance (ESG) commitments, focusing on Zero Footprint, Zero Barriers, and Zero Compromise.

How many volunteer hours did OpenText employees contribute in 2024?

OpenText (OTEX) reported that its employees contributed more than 35,000 volunteer hours in 2024, as part of the company's community impact and volunteerism efforts.

What amount did OpenText donate to charities in 2024?

OpenText (OTEX) donated over $1.45 million to charities around the world in 2024, aligning with several of the United Nations Sustainable Development Goals (SDGs).