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Atos, the French IT company currently navigating turbulent waters, announced the appointment of three new directors to its board, signaling a shift in leadership dynamics.
Notably, two of these directors will represent the company’s major shareholder, Onepoint, which commands an 11.4% stake in the group.
Representation from Onepoint:
Among the newly appointed directors is David Layani, the founder and CEO of Onepoint, a prominent consultancy and technological implementation services provider.
Joining him is Helen Lee Bouygues, president of LB Associates, a consultancy firm with a background in recovery and transformation services at McKinsey and experience in mergers and acquisitions from her tenure at JPMorgan.
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Completing the trio of appointments is Mandy Metten, Atos’ executive serving as the head of group executives and strategic functions. Metten’s inclusion on the board represents the company’s commitment to employee representation at the highest levels of decision-making.
Turbulent Times for Atos:
The timing of these appointments coincides with Atos’ ongoing struggle to reverse the fortunes of its loss-making businesses, exacerbated by a revolving door of four chief executives in less than two years.
The latest appointment, Paul Saleh, was elevated from the finance chief position just last month.
Failed Negotiations and Debt Concerns:
In a setback for the company, discussions regarding selling its legacy Tech Foundations arm to Czech billionaire Daniel Kretinsky collapsed recently.Â
This potential sale, aimed at divesting loss-making operations, was crucial for Atos to address its debt burden, amounting to 4.7 billion euros ($5.1 billion).
