Atos Names Paul Saleh as New CEO Amid Financial Adjustments

French technology giant Atos has appointed Paul Saleh as its new Chief Executive Officer in a strategic move to navigate financial challenges and reinforce its leadership team. The announcement comes alongside a cautionary note from the company, revealing that free cash flow is expected to dip slightly below the initial target for the second half of the year.
atos-technology-for-enterprisesAtos assures stakeholders that it remains on track to meet its financial projections for the year in terms of revenue and profits. However, the company anticipates a modest deviation in free cash flow, estimating a shortfall of approximately €100 million, Atos said in a news statement.

To address financial constraints and ensure the repayment and refinancing of its debts, Atos has adjusted its strategy while maintaining a focus on sustaining an attractive business mix. Paul Saleh, the current Chief Financial Officer, will step into the role of CEO, becoming the company’s fourth leader in less than two years, a period marked by a series of profit warnings.

Yves Bernaert, the outgoing CEO, departs from Atos after steering the company through an intense period of transformation. Jacques-Francois de Prest is set to assume the role of Chief Financial Officer, bringing his expertise from previous finance roles at car parts business Mobivia and telecoms group Vodafone.

Amid ongoing negotiations for the sale of its Tech Foundations arm, which has proven to be more protracted than anticipated, Atos has clarified that it has not initiated conciliation proceedings with creditors. The potential sale to Czech billionaire Daniel Kretinsky’s EPEI appears distant at this point, Reuters news report said.

CEO Paul Saleh remains committed to prioritizing key objectives, including the refinancing of debt, the sale of Tech Foundations, and the divestment of the company’s Big Data & Security (BDS) activities to Airbus.

Paul Saleh, formerly the CEO of Gainwell Technologies, brings a wealth of executive leadership experience to his new role. His distinguished career includes serving as CFO at CSC/DXC, CFO and interim CEO at Sprint Nextel Corporation, and holding senior leadership roles at the Walt Disney Company.

Paul Saleh, who has been Group CFO since August 2023, 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. His extensive background in turning around companies, particularly in the IT industry, positions him as a key player in Atos’s future projects.

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