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.