In a significant strategic shift, Atos SE announced on Wednesday the appointment of Yves Bernaert, former chief of Accenture (NYSE:ACN) Technology's European business, as its new CEO. This move is part of a comprehensive turnaround plan following a 90% plunge in the company's market value.
The steep decline in Atos SE's value was attributed to delays in offering cloud services to enterprise clients and their consequent shift towards technologically superior competitors. Bernaert's primary task will be to steer the company through this challenging phase and restore its position in the market.
As part of the restructuring plan, Atos SE will divest its legacy IT outsourcing segment. The company is also reportedly in negotiations with billionaire Daniel Kretinsky. The details of these discussions have not been made public.
Bernaert will take over the reins of Eviden, Atos SE's remaining divisions specializing in supercomputers, big data, and cybersecurity. These sectors are expected to play a pivotal role in the company's future growth strategy.
The current Eviden CEO, Philippe Oliva, is set to depart after a transition period. His departure comes amid backlash from minority shareholders, although no specific reasons have been provided for his exit.
The appointment of Bernaert marks a new chapter for Atos SE as it seeks to regain its footing in an increasingly competitive technology landscape. His experience and expertise are expected to guide the company through its restructuring process and towards its goal of reestablishing market prominence.
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