Atos Origin, activist funds reach deal - report
PARIS, May 27 (Reuters) - A dispute between Atos Origin (ATOS.PA) and the two activist funds that are pressing for a change of strategy at the French IT services group has been solved and a deal sealed over the departure of its supervisory board chairman, Les Echos.fr said on Tuesday.
The funds and Atos declined to comment on the report.
According to the website of business daily Les Echos, the funds, Centaurus Capital and Pardus Capital Management, have secured the departure of supervisory board chairman Didier Cherpitel.
Meanwhile, the three members of the group's managing board Chief Executive Philippe Germond, Senior Executive Vice President Global Functions Eric Guilhou, and Senior Executive Vice President Operations, Wilbert Kieboom, will stay, the paper said.
Cherpitel's replacement would be chosen from among candidates to the board but will be a "recognised French personality of the business world," Les Echos.fr said, citing a source close to the funds.
Atos's annual shareholders meeting ended in chaos last Thursday before a vote was taken on proposals by the two funds to name five board representatives and oust the supervisory board chairman.
The meeting was adjourned after the head of a fund representing Atos employees and holding 3 percent of the group's capital, unexpectedly said he would switch his support to the opposing funds.
The funds want Atos Origin, which has a market capitalisation of $4 billion, to speed up its recovery plan to generate higher returns. The funds have a 23 percent stake in the company.
Atos Origin has called for another shareholder meeting for June 12. Lawyers from the funds and from Atos met on Friday and again on Tuesday. Sources close to the matter told Reuters on Monday the two parties were discussing ways to solve the dispute rapidly. (Reporting by Dominique Vidalon; Editing by Greg Mahlich)
