Paul Saleh is appointed Chief Financial Officer of the Atos Group – 08/01/2023 at 08:32


(AOF) – Atos announces today the appointment of Paul Saleh as Group Chief Financial Officer. His appointment takes effect today, August 1. He succeeds Nathalie Sénéchault who is leaving the Group following an intense period of transformation. After the completion of the internal operational separation into two separate entities, the Group is now in working order to complete its full separation into two separate entities by the end of the year. He is developing his management team for this final stretch.

During his career, Paul Saleh has held numerous management positions, including that of Chief Financial Officer of CSC/DXC, CFO of Sprint Nextel Corporation where he also acted as CEO during an interim period, as well as as leading roles within the financial management of the Walt Disney group.

Most recently, Paul was the CEO of Gainwell Technologies.

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Key points

– International leader in digital transformation, high performance computing and infrastructures related to information technologies, created in 1997, European leader in cloud, cybersecurity and supercomputers;

– Activity of €11.3 billion, divided into 2 divisions: Evidian – digital transformation, big data and security – for 47% of sales, and Tech Foundations for 53% – infrastructures and connected work environments;

– Value maximization business model via the division, at the end of 2023, of the group into 2 separate entities – Tech Fondations for outsourcing and Evidian for digital, cloud and security;

– Open capital (9.96% for the Siemens pension fund and 2.2% for employees), Bertrand Meunier chairing the 14-member board of directors, with Nourdine Bihmane as managing director, Philippe Oliva as deputy CEO and Diane Galbe Deputy CEO;

– Financial situation under control with €2.7 billion in credit facilities covering needs estimated at €1.8 billion for restructuring, hence the exclusion by management of any capital increase but debt up to €1.45 billion €, i.e. a leverage effect of 3.75%.

Challenges

– Strategy for the second half of 2023 to split the group into 2 companies, Tech Fondations:

– Tech Fondations: turnaround financed to the tune of €1.1 billion targeting an operating margin of 6% (1.3% of revenue in 2022), a return to revenue growth and free cash flow of €150 million in 2026,

– Evidian: repositioning of the portfolio and strengthening of leading positions with high margins via a €400m plan to accelerate its growth to 7% per year until 2026, with an operating margin of 12% and free cash flow of €700m €,

– end of 2023, distribution to Atos shareholders of 100% of the shares of Tech Fondations and 70% of those of Evidian which will then be listed on Euronext Paris;

– Innovation strategy developed in 18 R&D centers with a portfolio of 3,000 patents:

– open innovation via partnerships with university centers (quantum computing, exascale computers, artificial intelligence, HPC, multicultural leadership, etc.), with alliances with other players (AWS, Dell, Google, Huma, Microsoft, OVHCloud, Sparkle…) and with customers,

– 2 scientific communities of expert collaborators of the group,

– Scaler program of collaboration with + 50 start-ups;

– Environmental strategy of carbon neutrality in 2028 and halving of emissions by 2025 vs 2021,

– sales of decarbonization solutions, reinforced by the acquisition of EcoAct,

– investments in hydrogen supercomputers and quantum technologies,

– launch of the 1st “green” loan;

– Execution of the €800 million disposal plan and outcome of negotiations with Airbus for the sale of 29.9% of the capital of Evidian;

– Acceleration of Evidian’s profitable growth and return to profits for Tech Fondations, 3 years ahead of expectations.

Challenges

– Employee attrition rate of 21.6%;

– Confirmation of the commercial momentum at the end of 2022 – order intake on turnover at 90% and gain of 1.3% in revenue;

– 2023 objective of stable revenues and an operating margin of 4 to 5%.

– Abolition of the dividend for 2022.

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