Atos CEO resigns after board proposes splitting the company

Atos's share price tumbled this morning on confirmation it is exploring a two-way split of operations, a decision that made the position of recently installed CEO Rodolphe Belmer untenable. In early morning trades on the Paris stock exchange, Atos stock plunged 27 percent, the steepest fall on record, after it outlined a …

[Gordon 10]

Bonkers

Makes you wonder who on the board was behind the split and what they expect to gain. Seems ludicrous that a possible split wasnt discussed with an incoming CEO.

[NeilPost]

Re: Bonkers

- Split the company

- leverage debt back onto the 2 successor businesses to finance it

- pay yourself handsomely with the cashflow lolly the debt generates

- fuck-off and exit the business before you get rumbled

[Missing Semicolon]

So, they watch IBM circle the drain

... and follow the same policies (fire the old folks, outsource) and expect a different outcome.

[Anonymous Coward]

SPAC

Sounds like a positioning for a future sale of Tech Foundation Co to a private buyer, either directly or through a SPAC (like CyrusOne last November).

[Andy 68]

"Age pyramid"

WTActualF? IBM 2.0

[Ned_Ludd]

21 ExCo Turkeys

So many potential comments. "Exiting negative margin accounts" is a curious one. But back in January, ATOS proclaimed that the company would now be structured around "tech foundations," "digital" and "big data & security (BDS)."

And the CEO found that the 21 ExCo members was too great. And a cull was proposed.

I guess the 21 ExCo Turkeys didn't vote for the Christmas leadership rationalisation.

[Kitten31720222]

They are an abusive company

They have continual turnover in every level of the company. They offered stock to their employees, quickly pressured the purchases. Then 2 weeks later at Chritmas time, they beg all of the US employees on a conference call, to please give them back some of our vacation days, as they fell short financially that year and need the money. You will never do enough for Atos. They have no industry class and not worth being associated with professionally.

[Potemkine!]

I'm all in favour of the disappearance of those listed companies, which are good to make money (generally by exploiting workers and customers) but aren't to do business. Let's replace them with smaller companies, which are often much more efficient and agile.

Those big IT service companies generally rent engineers as they were a commodity. I won't cry if they go to the void.