Alcatel names USA chief as chairman

19th April 2005, Comments 0 comments

PARIS, April 19 (AFP) - The French telecommunications equipment group Alcatel named Mike Quigley as chairman and chief operating officer, replacing Philippe Germond, who resigned unexpectedly earlier this month.

PARIS, April 19 (AFP) - The French telecommunications equipment group Alcatel named Mike Quigley as chairman and chief operating officer, replacing Philippe Germond, who resigned unexpectedly earlier this month.

Alcatel shares were up 1.72 percent, off earlier highs, at EUR 8.85 on the news, while the CAC 40 index of leading shares had gained 0.54 percent.

Quigley, who was chief executive officer of Alcatel USA, will report to group chief executive Serge Tchuruk "and will have particular responsibility for the group's telecoms activities", Alcatel said in a statement.

Alcatel recently split the role of chairman and chief executive to create a two-tier structure and Germond is understood to have been unhappy at Tchuruk's decision to remain as CEO until 2008.

Germond's resignation on April 8 also was believed to have been triggered by Alcatel's plans to build up its ties with the French group Thales, thus gaining a large presence in the defence sector to balance its substantial exposure to telecoms networks.

The Alcatel statement quoted Tchuruk as saying: "Mike has gained wide recognition in the world of telecoms and has acquired a broad knowledge of our company. I will give him all the support he may need in his new position."

Quigley, who is well-regarded by investors given his success in developing Alcatel's US business, will now be seen as the future chief executive of the company, following the expected resignation of Tchuruk in 2008.

Born in 1953 in Britain before emigrating as a youth to Australia, Quigley has dual British-Australian citizenship.

He joined Alcatel's Australian subsidiary in 1971 and has spent his entire career in the group.

© AFP

Subject: French News

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