CFO Paul Saleh to become new CEO
JacquesFrancois de Prest joins as CFO
Atos warns that it will miss secondhalf cash flow target
Company has yet to request creditor conciliation proceedings
Shares down 16

PARIS, Jan 15 Reuters French technology company Atos named Paul Saleh as its new chief executive on Monday and warned that free cash flow would be slightly below its initial target for the second half of the year, sending its share price tumbling.

Atos said Saleh, currently chief financial officer, would become CEO the company39;s fourth in less than two years as it has grappled with a series of profit warnings.

Atos shares were down by 16 in early trading. The stock has fallen by about 40 since the start of the year.

Saleh takes over from Yves Bernaert, who leaves the company after an intense period of transformation, Atos said, with JacquesFrancois de Prest coming in as CFO after finance roles with car parts business Mobivia and telecoms group Vodafone.

Les Echos newspaper reported on Monday that the company39;s restructuring plan was facing difficulties.

Atos, which is taking longer than expected to negotiate the sale of its lossmaking Tech Foundations arm, said it has not filed a request to open conciliation proceedings with creditors.

The potential Tech Foundation sale to Czech billionaire Daniel Kretinsky39;s EPEI seems a long way off. Les Echos on Monday cited an unnamed source as saying a last chance meeting between the parties was slated for the next…