Pierre Bonelli, chairman and chief exec of French IT services firm Bull, died yesterday after a long illness. He was 64.

Bonelli is credited with pulling Bull out of a deep financial crisis since joining the company in December 2001. On Wednesday Bull reported an annual profit of €4.1m, its first in five years. Last year Bull made a loss of € 548m.

Bull said it would pursue this restructuring plan as well as other strategies mapped out by Bonelli.

Gervais Pellissier moves up from chief operating officer and finance director to replace Bonelli.

Prior to joining Bull, Bonelli has a long an distinguished career in the IT services and semiconductor industries.

He began his career at Texas Instruments in 1966. Eleven years later, he moved on the Sema where he rose through the ranks to become chief exec within five years. He took Sema public in 1985, prior to leaving after its acquisition by the Schlumberger Group in 2001.

He is survived by his wife, Harriet, three sons and a granddaughter. ®

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