By Atos, the French IT company, has announced the appointment of Paul Saleh as its new Chief Executive Officer, replacing Yves Bernaert. Saleh, who previously served as the company’s Chief Financial Officer, will immediately assume his new role. The appointment comes just three months after Bernaert’s appointment.
Saleh’s primary focus will be on refinancing Atos’s financial debt and negotiating the sale of its Tech Foundations business to EP Equity Investment and its Big Data & Security activities to Airbus. EP Equity Investment is an investment company led by Czech billionaire Daniel Kretinsky.
Jean Pierre Mustier, chairman of Atos’s board of directors, described Saleh as a seasoned senior executive with extensive experience in corporate finance, corporate turnarounds, and restructuring within the technology industry.
This announcement marks the latest shake-up at Atos, which has experienced a period of turmoil in recent years. The company saw the departure of two chief executives in 2021 and 2022 due to a failed takeover attempt and a series of profit warnings that impacted investor confidence.
At present, Atos is in discussions with EP Equity Investment to sell its Tech Foundations business for a sum of 2 billion euros ($2.19 billion). Additionally, the company is exploring the sale of its cybersecurity unit to Airbus, which has made an indicative offer valuing the business at up to EUR1.8 billion including debt.
Meanwhile, Jacques-Francois de Prest will assume the position of CFO, taking over from Saleh effective from January 29.
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