It is starting to look like the predicted changes at Atos will be profound and transformative.
In August, the company said it was about to sell its Tech Foundations business to EP Equity Investment (EPEI).
Atos now confirms that preparatory stages of the project are underway and it has started social consultation with the Societas Europaea Council (SEC) and submitted most regulatory pre-filings or filings across the various concerned jurisdictions.
Atos reaffirmed the sale would offer the “most achievable execution path” to the separation of Tech Foundations and Eviden and would improve the risk profile of the group post-transaction.
The company announced its transformation plan in June 2022 of the full separation of Eviden and Tech Foundations.
Atos SE will be renamed Eviden SE post the completion of the EPEI group’s takeover of Tech Foundations. The company’s board will be split too and its current chairman and director of the board, Bertrand Meunier has stepped down.
As a result, the board unanimously approved the appointment of Jean Pierre Mustier as non-executive chairman and Laurent Collet-Billon as non-executive vice-chairman, effective immediately.
“During my time as chairman, the governance of Atos has been strengthened with a renewed, tightened, more international and diversified board of directors,” Meunier said.
“Recently, the group welcomed a new CEO and a new CFO who will pursue the group’s fundamental transformation. My commitment to the global and transformative transaction has always been driven by the preservation of the company’s corporate interest.
“Eviden is the only French solution capable of meeting the national and European sovereignty challenges. I am pleased to hand over the group chairman position to Jean-Pierre Mustier. His unwavering support has been invaluable to me, and I know that the management team will be able to count on him as they work together to lead the group to success.”
Pierre Mustier and Collet-Billon have been serving as independent directors of the Atos board since May 2023.
