FILE PHOTO: A French national flag flies near a logo of French IT consulting firm Atos, at the entrance of a company's building, in Angers, France, March 20, 2024. REUTERS/Stephane Mahe/File Photo
(Reuters) -French IT company Atos said on Tuesday that Philippe Salle will become its new chairman with immediate effect while also taking over as chief executive from February in its latest top management reshuffle.
Salle, who according to the company pledged to participate in the ailing firm's restructuring by investing at least 9 million euros ($9.80 million) himself, replaces former UniCredit top banker Jean-Pierre Mustier.
Mustier will act as CEO until January 31, Atos said, to ensure "an orderly, constructive and effective transition" and oversee the next steps in the group's restructuring.
The company, once seen as one of Europe's champions in the software and technology sector, is undergoing formal restructuring proceedings as it tries to get its business back on track. This year alone, its market value has dropped by over 90%.
A French court hearing on the accelerated safeguard plan between the company and its creditors is scheduled for later on Tuesday.
($1 = 0.9184 euros)
(Reporting by Michal Aleksandrowicz)
