Atos has appointed a new CEO – the sixth in three years

Atos announced the opening, at its request, by the court of accelerated protective proceedings in order to implement the previously announced financial restructuring plan. The company noted that when making its decision, the court took into account the high level of support for the plan from financial creditors.

Atos also emphasized that the accelerated protective procedure only affects financial debt (RCF, TL, bonds) and Atos share capital, and will not affect suppliers, employees and other claims made against the company.

Image source: Atos

As part of the previously agreed package of anti-crisis measures, creditors will take control of Atos’ business, and bonds and debts worth €3.1 billion will be converted into share capital. Lenders will also provide €1.675 billion in new debt and €233 million in new capital.

Since the majority of creditors have signed the agreement, the protective procedure will help ensure the completion of the plan even if Atos faces further problems in the future. The court hearing to approve the expedited protective proceedings will take place on October 15, 2024.

«The opening of the accelerated defense procedure marks the completion of an important step in Atos’s financial restructuring process and the beginning of a new era of recovery and development,” Atos said in a statement.

The company also announced the appointment of Jean-Pierre Mustier as CEO of Atos, in addition to his existing duties as Chairman of the Board of Directors, which he has been holding since October 2023. He replaced CEO Paul Saleh, who is leaving his post due to the completion of a package of measures to save the company.

Mustier became the sixth CEO of Atos in a three-year period. Before Saleh, this post was held by Yves Bernaert (Yves Bernaert) for just over a year. And before him, the duties of the general director were performed by Nourdine Bihmane, Philippe Oliva and Diane Galbe.