Atos CEO Rodolphe Belmer to quit as he loses power struggle over strategy

The logo of Atos is pictured at the Eurosatory international defence and security exhibition in Villepinte, near Paris, France June 13, 2022. REUTERS/Benoit Tessier - RC2ZQU9IH820

Atos Chief Executive Rodolphe Belmer, who only joined in October, is set to leave the struggling French IT company amid deep divisions with the board about strategy, Les Echos newspaper reported hours before the start of an investor day.

An Atos spokeswoman said the firm had no comment, adding that a strategy plan will be presented during Tuesday's investor day.

"The CEO who is expected to present the new strategy plan on Tuesday ... is about to quit", Les Echos said, without citing sources.

"The differences of view with the board ... have shown to be too deep and the point of no return risked to be reached Monday night during the latest board meeting," the paper added.

Belmer, previously the boss of Vivendi-owned pay-TV station Canal+ and satellite firm Eutelsat, promised a new start for Atos after the company was rocked by a major accounting controversy linked to counting errors spotted by auditors.

According to media reports, the main point of discord between Belmer and his board, chaired by Bertrand Meunier, concerned the future of the company's crown jewel cybersecurity unit, with Belmer reportedly considering a sale to raise much needed cash.

Atos shares have suffered major losses in recent months, making the firm vulnerable to M&A rumours and speculation. On Monday, they fell over 10% following a media report about its future strategy.