Global IT services giant Atos has appointed its Jean Pierre Mustier as its new chief executive officer.
The new CEO replaces Paul Saleh, who had only been in the post since January this year, but has decided to leave Atos with immediate effect. More details around his departure have not been released.
Mustier comes from within the Atos organisation – he has been serving as chairman since October 2023. As CEO, he now takes on a more executive role, focused on leading the company’s strategic direction and 95,000 employees across offices in 60+ countries.
Jean Pierre Mustier
A key part of Mustier’s mandate will be to continue the financial restructuring program Atos is working on, which is key to the company’s survival. Atos owes around €5 billion to its creditors, €3.6 billion of which is due to be paid back by the end of 2025. The restructuring plan is aimed at lowering that burden and returning Atos to financial health.
Earlier this month, a major step was taken when Atos announced that it had secured approximately €1.7 billion in financing from banks and existing shareholders. In return, Atos will convert €2.9 billion of debt into shares.
Atos previously also secured €800 million in financing to fund the period up until the completion of the financial restructuring plan, which is expected sometime in Q1 next year.
About Jean Pierre Mustier
Jean Pierre Mustier began his career at Société Générale, where he remained from 1987 until 2009, working primarily within the Corporate & Investment Banking division. He held numerous positions in various markets and financing activities, in Europe, but also in Asia and the United States.
In 2003, Mustier was appointed head of Société Générale’s Corporate & Investment Banking Division in 2003, and was also a member of the bank’s Executive Committee. In September 2008, he took over the Asset Management, Private Banking and Securities Services responsibility.
After leaving Société Générale at the end of 2009 he has advised many financial institutions and completed large amounts of fundraising for various social enterprises and non-profit institutions, also as trustee.
In early 2011 he joined UniCredit as Deputy General Manager in the Corporate & Investment Banking division. He was a member of the UniCredit Executive Management Committee. Upon stepping down from his executive role at UniCredit at the end of December 2014, he joined the bank’s international advisory board.
In January 2015, Jean Pierre became a London based partner of Tikehau Capital, an investment management group, with specific focus and responsibility for Tikehau’s international expansion.
The following year, he was co-opted as member of the board of directors of UniCredit, and subsequently was appointed as Group Chief Executive Officer and General Manager of UniCredit.
Sourced from Consultancy.eu