We learned this Sunday evening that the president of Atos, highly contested by shareholders, resigned from his mandate during the weekend. This follows an increasingly strong revolt from shareholders and the resignation of a director a few days ago.
It must be said that the record of Thierry Breton’s protégé is simply catastrophic with a leading group that he took to the brink in just a few years. In two years the stock has lost 90% of its value and is trading at ridiculous valuation levels. It must be said that the latter has accumulated setbacks and has made almost all the strategic errors that one can make.
The latest, the negotiation with Daniel Kretinsky to sell him the TechFoundations branch at a negative price of 1 billion euros.
The pressure has finally paid off and the chairman of the board of directors leaves through the very small door. He would be replaced by Jean Pierre Mustier, new to the group’s board of directors. An announcement is apparently planned for Monday morning before the markets open.
The twists and turns are not over on the issue which should still surprise us in the coming weeks.
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