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By | Kelly Fiveash 2nd April 2008 14:52

Atos Origin rebels propose board members

Le retour des Bourigeaud

Rebel shareholders in Atos Origin have put forward three new members – including the company's founder – to the French services firm's board.

Rebel shareholders from private equity funds Centaurus Capital L.P. and Pardus Capital Management L.P, vowed last week to fight the company’s refusal to grant them representation on the supervisory board by proposing its own line-up of potential members.

According to Reuters which quotes French paper Le Figaro, the two funds have nominated Atos founder Bernard Bourigeaud, who was chairman and head honcho at the firm for nearly two decades.

The other two people in the frame, if the dissenters get their way, are Michel Combes, CEO of TDF and shareholders’ rights campaigner Colette Neuville.

Centaurus and Pardus, which jointly own 21.67 per cent of Atos, have also put forward their own two candidates for the supervisory board. Voting will take place at the Atos shareholders’ meeting on 22 May.

Last week enraged Centaurus and Pardus shareholders wrote an open letter to the firm.

They criticised Atos bosses following the publication of the board's draft resolution for its AGM grumbling that they had “lost faith” in the management team’s ability to pursue “serious discussions with interested strategic parties".

Atos shares are currently trading down a nudge on the Paris stock exchange at €34.45. ®

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