The CEO of French technology consultancy Atos, Rodolphe Belmer, has tendered his resignation after the announcement of the company’s plans to split into two independent companies and sell certain group assets. If carried out, the division plans presented by the board would split Atos into SpinCo and TFCo, as the companies resulting from the process would be called.
If the plan goes ahead, the first of them will include its Big Data and security divisions, as well as evidian, a subsidiary of Atos. Both divisions generated joint revenues of €4.9 billion in 2021. At the head of this company will be Philippe Oliva. Its purpose will be to achieve solid and sustainable growth, with margins above 10%.
As to TFCo, will have the technological Bases of Atos, except for Unified Communications and Collaboration (UCC). Together, the areas that will form TFCo achieved 2021 revenues of 5.4 billion euros and will be led by Nourdine Bihmane. As a goal, set for 2026, the company would try to restore growth and profitability, as well as generate cash.
According to the Chairman of the board of directors of Atos, Bertrand Meunier, the company has examined various options for the future, but the board is convinced that the project they have presented is the best possible for the group, and the one that would create the greatest value for all stakeholders in Atos.
Despite having resigned, Belmer assures in the statement announcing the Atos division plans that separating the divisions will create two companies with proven and recognized historical records, in order to optimize the two different markets in which the company operates. group at present.
Thus, he notes that “By specializing in two business areas with different and equally attractive paths, each company would focus on what it does best for its clients, creating significant new investment capacity for both and offering the opportunity for long-term success as well as various achievements and growth«. Atos is specialized in advanced technology transactional services, unified communications, cloud computing, Big Data and cybersecurity.
Belmer had only been in the post for a short time, having been appointed CEO last January, but has had several clashes with the board of directors over the consultancy’s reorganization plans, which are aimed at optimizing the two different sectors in those operated by the consultancy. Belmer reportedly had plans to sell the consultancy’s cybersecurity division, BDS, while the board wanted to keep it, according to Reuters. Finally, as he has confirmed, he will leave Atos on September 30. When that day comes Philippe Oliva and Nourdine Bihmane will be CEOs of Atosjointly.
The consultant has been evaluating a reorganization for some time. and since last year there have been rumors of the sale of its oldest information technology division and the outsourcing of some operations. But now, with the release of the spin-off plans, the day is drawing near when the Atos reorganization becomes effective.
