Atos reshapes management team and board to implement adjusted
strategy
Press Release
Atos reshapes management team and board
to implement adjusted strategy
- Paul Saleh,
currently group CFO, appointed Chief Executive Officer with
immediate effect.
- Jacques-François de
Prest joins Atos as Group CFO.
- Sujatha "Suja"
Chandrasekaran and Monika Maurer are appointed as new independent
directors.
- Further Directors
appointments are currently under review, to continue strengthening
the Board of Directors during this transformation period.
- Atos confirms that
the Group and its business lines will achieve their 2023 financial
targets for the year in terms of sales and operating margin.
- The company expects
free cash flow to be slightly below its target approximately by
-100 million euros for H2.
- As per the market
update issued on January 3, 2024, Atos’s strategy has been adjusted
in light of financial constraints to ensure the repayment and
refinancing of its financial debts while maintaining an attractive
business mix.
- The Group further
confirms that it has not filed a request to appoint a mandataire ad
hoc or to open conciliation proceedings; as already stated, the
company reserves the right to use available legal mechanisms.
Paris, France - January 15,
2024 - Atos today, following the recommendation of the
Nominations and Governance Committee, announces that Paul Saleh has
been appointed Chief Executive Officer of the Group, by the Board
of Directors, taking over from Yves Bernaert who leaves the Group
after an intense period of transformation for which the Board is
thankful. Paul Saleh’s appointment will be effective as of today.
Jacques-François de Prest joins Atos to take over the role of Group
CFO, effective on January 29, 2024.
Atos also announces the appointments of Sujatha
"Suja" Chandrasekaran and Monika Maurer to the Board of Directors,
strengthening its skills in the strategic areas of digital
technologies and major transformation projects. Further Directors
appointments are currently under review, to continue reinforcing
the Board of Directors during this transformation period.
Paul Saleh will primarily focus on refinancing
the Group’s financial debts and ongoing or coming negotiations
concerning, in particular, the sale of its Tech Foundations
business to EPEI and its Big Data & security (BDS) activities
to Airbus. He will work closely with Carlo d’Asaro Biondo, Group
General Manager, who is in charge of business operations,
commercial development, partnerships, product and business delivery
efficiency.
Paul is a seasoned leader within the IT services
industry. Most recently, Paul was CEO of Gainwell Technologies and
has held many executive leadership positions during his
distinguished career, including as CFO at CSC/DXC, as CFO and
interim CEO at Sprint Nextel Corporation, as well as senior
leadership roles at Walt Disney Company. Paul has been Group CFO
since August 2023. He holds an MBA from the University of
Michigan’s Ross School of Business and a master’s degree in
engineering from the University of Michigan. He will bring his
strong experience and expertise in turnaround of companies, and
especially in the IT industry.
Jacques-François de Prest joins Atos from
Mobivia, where he was CFO and Performance Leader. Before that he
spent over 20 years in the telecommunications industry, including
senior finance roles at both Vodafone and Millicom.
Jacques-François holds a graduate degree from ESCP Europe and an
MBA from INSEAD.
Jean Pierre Mustier, Chairman of Atos’s
Board of Directors, said: “Paul is a seasoned senior
executive, with extensive experience in corporate finance,
corporate turnarounds and restructuring – including within the
technology industry. He is the right person to lead Atos during
this period of transformation as we take decisive and disciplined
action to secure the long-term sustainability of our business to
the benefit of our 105,000 employees, our clients and our
investors. I’m also pleased to welcome Jacques-François de Prest as
Group CFO, as well as Sujatha Chandrasekaran and Monika Maurer, two
highly experienced board members.”
Paul Saleh, Chief Executive Officer of
Atos, said: “During my time as CFO of Atos Group, I have
gained deep insight into the company and have a clear understanding
of what actions need to be taken to secure a successful and
sustainable future for the Group. I look forward to working with
the board, Carlo d’Asaro Biondo and the management team to
implement these measures in the interest of all stakeholders.”
Yves Bernaert, outgoing Chief Executive
Officer of Atos added “I am very proud and grateful to
have been able to work with all team members of Atos. I joined the
business to run its transformation and development. Based on my
conviction and with the support of the board I also worked on
adjusting the strategy for the benefit of the company, its
employees and shareholders. Due to a difference of opinion on the
governance to adjust and execute the strategy, I decided to leave
the company. I would like to thank everyone at Atos for their hard
work during my time at the business and I wish Atos and all the
teams all the best for the future.”
Market update
In addition, the company confirms that it will
meet its financial guidance for the year for revenue and profits.
The company expects free cash flow to be slightly below its target
approximately by -100 million euros.
As per the market update issued on January 3,
2024, Atos’s strategy has been adjusted in light of financial
constraints to ensure the repayment and refinancing of its
financial debts while maintaining an attractive business mix.
The company further confirms that it has not
filed a request to appoint a mandataire ad hoc or to open
conciliation proceedings; as already stated, the company reserves
the right to use available legal mechanisms.
***
Appendix
- Sujatha
"Suja" Chandrasekaran
Suja Chandrasekaran has over 25 years'
experience in senior management positions in global companies, with
a strong focus on technology and data, strategic transformation,
digital business models, cybersecurity operations and
e-commerce.
She was Senior Executive Vice President and
Chief Digital and Information Officer of CommonSpirit Health from
2019 to 2022, where she was responsible for global functions
including human experiences, technology, digital, cybersecurity,
data and artificial intelligence development.
From 2016 to 2019, Suja was Global Chief
Information Officer of Kimberly-Clark Corporation, where she was
responsible for the company's technology, digital, data and
applications capabilities. She has also held senior technology
roles at Walmart, The Timberland Company and PepsiCo.
Since stepping down as an executive in 2022,
Suja Chandrasekaran has served on several boards and committees,
including since 2022 at Cardinal Health Inc. and American Eagle
Outfitters.
Suja Chandrasekaran holds a Master of Business
Systems (MBS) from Monash University, Australia and a Diploma in
Electrical and Electronic Engineering from the University of
Madras, India.
Monika Maurer works as the Chief Executive
Officer for Radio Frequency Systems (RFS) since May 2019. She was
previously Chief Operating Officer of Nokia Group and, prior to
that, Chief Operating Officer of Nokia’s Fixed Networks Business
Group.
Monika Maurer held between 2006 and 2016 several
positions within Alcatel-Lucent, including Chief Operating Officer,
Fixed Networks Business line during 2012–2016, Vice President,
Presales EMEA during 2010–2012 and President, Product Attached
Services Division 2009–2010. Between 1985 and 2006, Maurer held
several positions within Alcatel, among others, President, Fixed
Solutions Division 2005–2006 and President, Voice Networks Division
2004.
Monika Maurer holds a Diploma in Physics and
Chemistry from the University of Stuttgart, Germany, and a Diploma
in Pedagogy, State University for Pedagogic, Stuttgart,
Germany.
***
About Atos
Atos is a global leader in digital
transformation with c. 105,000 employees and annual revenue of c. €
11 billion. European number one in cybersecurity, cloud and
high-performance computing, the Group provides tailored end-to-end
solutions for all industries in 69 countries. A pioneer in
decarbonization services and products, Atos is committed to a
secure and decarbonized digital for its clients. Atos is a SE
(Societas Europaea), and listed on Euronext Paris.
The purpose of Atos is to help design the future
of the information space. Its expertise and services support the
development of knowledge, education and research in a multicultural
approach and contribute to the development of scientific and
technological excellence. Across the world, the Group enables its
customers and employees, and members of societies at large to live,
work and develop sustainably, in a safe and secure information
space.
Contacts:
Investor
Relations: investors@atos.net
Individual
shareholders: 0805
65 00 75
Media: globalprteam@atos.net
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adjusted strategy
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