Alcatel-Lucent gets new Chairman and new CEO
Barely a month after reporting poor results and announcing the departure of both its CEO and Chairman of the Board, Alcatel-Lucent today announced new executive leadership.
Camus will become Chairman and Ben Verwaayen is being appointed as the company's chief executive
Verwaayen replaces current CEO Pat Russo who had announced at the end of July that she would step down as soon as a replacement was found. Russo noted back in July that it was time for Alcatel-Lucent to move beyond the merger phase which is why she was moving on. Verwaayen is no stranger to Lucent and was once the vice-chairman of the management board of Lucent
Technologies in the US. Most recently Verwaayen was the CEO of BT from February 2002 to
June 1, 2008.
Alcatel-Lucent has struggled since its 2006 merger and in its most recent financial results reported a Net Loss of $1.73 billion.