Atos: New Chairman Initiates Next Phase of Restructuring

The French IT corporation Atos has announced significant changes in its executive leadership. Philippe Salle will immediately assume the chairmanship of the company and from February will also serve as CEO. This change is part of a comprehensive redesign of the management. Salle succeeds Jean-Pierre Mustier, a former top banker at UniCredit, who will remain in office as CEO until January 31. During this time, Mustier is tasked with ensuring an orderly and effective transition and overseeing the next steps of the restructuring. Atos, once considered a pioneer in the European software and technology sector, is undergoing a formal restructuring process to get the company back on track. The company's value has already declined by over 90% this year. Salle has committed to investing at least 9 million euros into the struggling firm to advance its restructuring. A hearing is scheduled for Tuesday before a French court, where the accelerated protection plan between Atos and its creditors will be discussed.