Acatel-Lucent leaders resign
French-US telecom equipment giant Alcatel-Lucent who has just announced huge losses says its chief executive and board chairman Serge are leaving the company.29 July 2008
PARIS - French-US telecom equipment giant Alcatel-Lucent on Tuesday announced that chief executive Patricia Russo and board chairman Serge Tchuruk would leave the company which has just announced major losses.
Russo will leave by the end 2008 and Tchuruk, the non-executive chairman, will stand down on 1 October, the company said in a statement.
Until a successor is found, Russo "will continue to direct the group to ensure the transition," the statement said.
The board "will immediately begin the search for a new non-executive chairman and a new chief executive," and will also change its composition to reduce the number of its members," it said.
Alcatel and Lucent merged in December 2006 but the group on Tuesday announced a second straight quarterly loss, this time of EUR 1.1 billion.
[AFP / Expatica]