Michael Acedo – OpenText

In soccer, a team’s success hinges on more than individual skill; it depends on the collective understanding of roles and responsibilities. When every player knows their role, it creates a cohesive unit where each person’s strengths are maximized, and their actions and mindset complement their teammates.

Michael Acedo | OpenText | EVP, Chief Legal Officer & Corporate Secretary

The same can be said for a legal department of a global organization, so says Michael Acedo, the executive vice president, chief legal officer and corporate secretary for OpenText.

“You need to have a team where everybody plays their roles and contributes toward the organization’s greater good,” Acedo tells Vanguard during an interview in October.

Headquartered in Waterloo, Ontario, Canada, with a global footprint of over 23,000 employees, OpenText is a company that believes information and knowledge make business and people better. OpenText provides the tools and solutions that empower digital businesses of all sizes to become more intelligent, connected, secure and responsible. This makes it easier for businesses to maximize the strategic benefits of data and content. In essence, OpenText helps companies turn their piles of digital information into valuable, manageable resources. On the legal side, Acedo and his team of over 135 strong ensure the company is compliant and operating following the rules and regulations of the jurisdictions where it does business.

Moving the company forward

Throughout his 10-year tenure, Acedo has been involved in various roles within the organization, experiencing firsthand the growth and evolution of OpenText into its current phase—what is referred to as OpenText 3.0. Acedo has helped guide the company through periods of strategic acquisitions, including the major acquisition of Micro Focus and a significant divestiture that realigned the company’s strategic focus, ultimately enhancing OpenText’s capital flexibility.

“We’ve grown through acquisition; it is in our DNA,” Acedo notes, emphasizing mergers and acquisitions as a foundational element of OpenText’s growth strategy while also stressing the importance of organic profitable growth and continuous innovation.

As corporate secretary to the company’s board, Acedo collaborates closely with the full board and key stakeholders such as the CEO&CTO, CFO and the others on the Executive Leadership Team, ensuring the company’s legal, financial and strategic growth is harmonized across its global operations.

While overseeing OpenText’s legal functions, Acedo takes a global view, mindful of the challenges posed by international regulations, political environments and ethical considerations. He was at the forefront of decisions like the company’s exit from Russia following its invasion of Ukraine, a move made in adherence to OpenText’s principles of respecting human rights and international law. Acedo emphasizes the need for a principled approach, especially when doing business in diverse geographies such as South Africa, where OpenText actively supports Black empowerment initiatives.

A steward for a better world

In Acedo’s role, corporate citizenship has also become a focal point. OpenText’s fifth annual corporate citizenship report, encompassing environmental, social, and governance initiatives and diversity, equity and inclusion goals, highlights his commitment to these pillars. The company’s “Zero In” initiative stands as a cornerstone of this mission, aimed at achieving zero compromises, zero barriers and zero footprint, focusing on reducing environmental impact.

“We’re very mindful about climate change,” Acedo says. “It is the defining challenge of our time.”

He keenly knows that OpenText must balance business imperatives with social responsibility as a for-profit, public company. As part of that balance, OpenText has been actively helping its customers reduce their own carbon footprints, ensuring regulatory compliance while remaining efficient and impactful. Acedo believes that this is where OpenText can make its most significant impact—by helping customers and organizations worldwide run their operations more sustainably, whether through reducing paper use or cutting emissions.

While Acedo recognizes that some companies are retreating from DEI commitments, OpenText remains steadfast in its principles.

“We’re maintaining our position and our principles,” he asserts proudly, underscoring that diversity is not just a box to check but an essential aspect of business today to deliver the greatest value and impact.

The company takes diversity seriously, including when selecting outside counsel, and he says that it’s rare for a team working with OpenText not to include lawyers of various genders and backgrounds. Performance, of course, is paramount, but Acedo sees diverse viewpoints as a critical part of being a good partner and greatly values the external firm relationships built over many years.

An evolving legal function

From a legal operations perspective, Acedo’s goal is to continue enhancing and elevating the function. For him, it’s about operating globally with speed and simplicity, leveraging technology to reduce costs while still adding value to the business. He believes that legal teams should strive beyond mere cost centers, becoming business enablers that drive strategic growth and support OpenText’s mission.

Cloud technology has been a crucial part of OpenText’s evolution, and Acedo is well-versed in the company’s accelerated cloud-growth approach, having seen its cloud revenue grow to $2 billion annually. He recognizes the growing market shift towards cloud solutions, particularly in a hybrid model that allows customers the flexibility to operate in private clouds or public environments depending on their needs.

“Our model continues to support customers where they want to be,” he stresses, noting that even as OpenText pushes forward with its accelerated cloud growth strategy, licensing will remain an essential component of its business model. “I’m very confident that OpenText is well-positioned to continue adapting to its customers’ evolving needs.”

Scoring career goals

Acedo’s path towards law was seemingly preordained, despite his Spanish father’s highly optimistic wishes for him to become a professional soccer player while growing up. After earning a degree in history and political science from the University of Toronto and a bachelor of laws from Western University, Acedo developed a deep interest in government, policy and corporate law, making the corporate public company environment a natural fit for his skills.

He honed his craft for over seven years at Skadden, Arps, Slate, Meagher & Flom before joining OpenText in November 2014 as an assistant general counsel. Acedo rose through the ranks, crediting incredible mentorship and professional relationships along the way, to his current position as Chief Legal Officer in January 2022.

Acedo says his desire to keep learning and growing has never wavered, and OpenText, with its complexity and global reach, has been the perfect place to foster that growth.

“I am proud to be part of an organization that values making a difference, and I aim to carry that same ethos into my personal life, striving to be the best father, partner and friend I can be,” Acedo says.

Beyond the office, Acedo enjoys golfing and running, having completed several half marathons. Running, for him, isn’t just about fitness but also the social aspect—he enjoys the camaraderie of running with others. His 9-year-old daughter, who recently made her competitive soccer team, provides him with another reason to stay active, and the two often spend time kicking a soccer ball around together, an activity he also plans to continue in time with his newborn daughter.

Acedo’s leadership at OpenText reflects a blend of principled business strategy, commitment to social responsibility, and a personal dedication to continuous improvement. As the company moves into its next growth phase, he embraces the challenge that his CLO Organization will remain crucial to navigating the complexities of an ever-evolving technological and geopolitical landscape.

”As is the case in soccer, ‘software is a Team sport,’” Acedo says as he reiterates a mantra often cited internally at OpenText and stresses that the key to any organization’s success is the strength of the Team. “We have an incredible team at OpenText that continues to aim to be the best information management company in the world. The legal organization will continue to play its important role.”