Atos Origin CEO ousted
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Former French finance minister Thierry Breton names new CEO after Philippe Germond is ditched with little explanation
In what has been described as a ‘boardroom coup’, the CEO of IT services provider Atos Origin, Philippe Germond, was unexpectedly was ousted by the company’s board of directors yesterday.
There was scant explanation for Germond’s sudden departure. However, the company has been blighted by confrontation between management and investors in the past.
Earlier this year, Atos Origin executives were confronted by two private equity firms Pardus Capital Management and Centaurus Capital, which own around a quarter of Atos Origin’s stock between them, over the company's strategy strategy. That dispute cost former chairman Didier Cherpitel his job, and was at the time seen as a landmark case of shareholder activism in
Germond will be replaced by Thierry Breton, who was once
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