French IT giant Atos (ATOS.PA) announced on Tuesday the appointment of Philippe Salle as its new chairman, effective immediately, while he will assume the role of chief executive officer in February. This decision follows the resignation of Jean-Pierre Mustier, a former top banker at UniCredit.
Salle has committed to reinvest in the struggling company, pledging a personal investment of at least €9 million (approximately $9.8 million) as part of his plan to facilitate Atos’s restructuring efforts. Mustier will remain as CEO until January 31 to ensure a smooth transition and to guide the next steps in the company’s ongoing restructuring process.
Once regarded as a leading player in Europe’s software and technology landscape, Atos is currently navigating formal restructuring proceedings as it strives to stabilize its operations. The company has seen its market value plummet by more than 90% this year alone.
A French court is set to hear the accelerated safeguard plan between Atos and its creditors later today, a critical step in the company’s recovery efforts.
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