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Atos Considers Spinoff of Cybersecurity Unit, CEO to Leave

  • Data unit will be listed before the second half of 2023
  • Firm estimates total funding needs of about $1.7 billion
Updated on

Atos SE shares tumbled the most on record after the company said Chief Executive Officer Rodolphe Belmer would resign just five months into his tenure, following a failure to agree on a potential restructuring that will lead to a breakup of the French IT business.

Atos is studying spinning off its Big Data and Cybersecurity business in a separate entity, while Belmer will leave before September, the company announced at a capital markets day on Tuesday. Appointed in late January this year, Belmer said he has “no choice but to resign” following this reorganization, according to the statement.