Atos appoints fifth CEO in less than two years
Recasts, adds detail from statement, context
July 24 (Reuters) -French technology company Atos ATOS.PA on Wednesday appointed its chairmanJean Pierre Mustier as CEO to replace departing boss Paul Saleh in its fifth top management reshuffle in less than two years.
Atos is undergoing a financial restructuringin a bid to deal with debt, and getits business back on track. This year alone, its market value has dropped by 85%.
The group is deemed strategic by France's government. It secures communications for the French military, and is handling cybersecurity for the Paris Olympic Games which are set to kick off.
Mustier, a former CEO of Italian bank UniCredit CRDI.MI, takes over from Saleh, who became CEO in January, with immediate effect, the company said on Wednesday.
The appointment comes as the Nanterre Commercial Court opened a procedure to implement Atos' financial restructuring plan. A hearing for the court to approve an accelerated safeguard plan is scheduled for Oct. 15, Atos said.
Earlier this month, the group secured 1.675 billion euros ($1.82 billion) in funding from banks and bondholders.
($1 = 0.9220 euros)
Reporting by Olivier Sorgho and Anna Peverieri; editing by Jason Neely and Louise Heavens
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
