Atos CEO Yves Bernaert has give up; The board instantly changed him with Paul Saleh, CFO of the corporate since August 2023.
Bernaert cited variations of opinion over governance as the explanation for his departure: He disagreed with the board in regards to the want for latest modifications within the firm’s technique, and the best way they had been executed.
Two weeks in the past, the corporate introduced plans to dump extra of its actions, because it struggled to conclude the sale of its managed infrastructure companies enterprise, often called Tech Foundations, to EP Fairness Funding. The corporate wants to boost capital because it seeks to renegotiate €1.5 billion ($1.65 billion) in debt falling due inside the 12 months.
Saleh is the corporate’s fourth new CEO in little greater than a 12 months. Former Accenture govt Bernaert took over in October 2023, changing caretaker CEO Nourdine Bihmane, who then returned to his submit as chief of Tech Foundations, the enterprise Atos nonetheless hopes to promote. His predecessor, Rodolphe Belmer, was appointed CEO in December 2022 and left in August 2023 following a dispute with activist shareholders.
Alongside Saleh’s appointment, Atos board chairman Jean-Pierre Mustier additionally named two new administrators, Sujatha Chandrasekaran, a former CIO of CommonSpirit Well being and of Kimberly-Clark, and Monika Maurer, CEO of Radio Frequency Methods and a former COO of Nokia.
Having a finance professional like Saleh on the helm may assist stabilize Atos because it seeks to barter the uncertainties round its debt rescheduling and its recapitalization plans, which the corporate says are unchanged since its announcement on Jan. 3, 2024.
