| Atos Origin reaches agreement with major shareholders
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| |
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| | Atos Origin and its two
largest shareholders,
investment funds
Centaurus and Pardus,
have issued a joint
statement announcing
that they have reached
an agreement which they
consider to be in the
best interests of the
company, its employees,
its clients, and all
stakeholders. The
decision ends months of
disagreement about the
management and future
direction of the
company.
Atos Origin and the
investment funds said
that all parties regret | |
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| | staff.
Under the agreement,
Atos Origin's chairman,
Didier Cherpitel, is to
step down and the two
funds are each to have a
seat on a nine-member
board led by
Jean-Philippe Thierry,
chairman of French
insurer AGF and a member
of the Allianz
management board.
Atos Origin said
Thierry's appointment
will bring stability to
the company and that he
will support its
development. He is a
prominent member of the
European business | |
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| | community, chairman of
the Supervisory Board of
Euler-Hermes and of the
Mondial Assistance Group
and also a director of
PPR and Eurazeo (in a
non-voting capacity).
The company and the
funds have agreed that a
strategic committee will
be created to examine,
in close co-operation
with the Management
Board, all investments
and strategic options
available to the company
in order to maximize
shareholder value.
In addition,
Centaurus Capital and
Pardus Capital | |
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| | Management are committed
to vote in favour of all
resolutions recommended
by the Management Board
at the forthcoming
general meeting of
shareholders on 12 June
2008.
The funds' board
members have undertaken
to resign from the
Supervisory Board within
10 days if the stakes
held respectively by
Pardus Capital
Management and Centaurus
Capital fall below 5%.
| |
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| | the incident which
resulted in the
adjournment of the
shareholders' meeting.
Pardus Capital
Management and Centaurus
Capital reiterated that
they have no intention
to break up the company,
and confirmed that they
have full confidence in
the professional skills
of the Management Board
members and the entire | |
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