Struggling Atos names third CEO in two years
PARIS, FRANCE — Global information technology (IT) services company Atos Group has appointed Yves Bernaert as its new Chief Executive Officer, the company’s third CEO in two years.
The leadership change comes as Atos continues major restructuring efforts amid financial struggles.
Bernaert, formerly CEO Europe of Accenture Technology, replaces Nourdine Bihmane, who became CEO in July 2022 after a brief tenure by Rodolphe Belmer beginning in October 2021. These rapid CEO changes followed the abrupt departure of former CEO Elie Girard in 2021.
The appointment of Bernaert aims to accelerate Atos’ transformation plan and turnaround of operations.
Earlier this year, Atos announced an internal separation into two entities: Eviden, focused on digital transformation, and Tech Foundations, focused on infrastructure services.
If Atos finalizes the split into two public companies, Bernaert would lead the new Eviden Group.
“[Bernaert’s] personal and professional strengths, ability to lead teams through major transformations, in-depth knowledge of our industry and belief in the critical role our sector plays in meeting the national and European digital sovereignty objectives, make him the ideal leader,” said Bertrand Meunier, chairman of Atos’s board of directors.
Atos is actively reshaping its business portfolio through planned asset sales. This includes the €2 billion ($2.1 billion) sale of its Tech Foundations unit to a private equity firm, and negotiations to sell its Unified Communications and Collaboration Services businesses.
The company aims to strengthen the balance sheet of the Eviden digital transformation business through a €1.5 billion (US$1.58 billion) capital increase, while reducing debt. Atos expects the restructuring efforts to be completed by late 2023 or early 2024.
The leadership changes and restructuring follow several years of disappointing financial results at Atos. The company has faced criticism from activist investors pushing for faster restructuring efforts.
