Alcatel-Lucent stands by Russo

The Alcatel-Lucent board has issued a statement in support of CEO Pat Russo as speculation mounts over the future of the troubled vendor.

French daily La Tribune reported that the board had split along US and French lines and that both Russo and chairman Serge Tchuruk could be forced out.

At a time of robust spending by service providers worldwide, Alcatel-Lucent has issued three profit warnings in less than a year.

The directors confirmed in their statement that Russo had been given a month to prepare a new restructuring plan.

'While clearly disappointed in the most recent changes in the company's outlook, the Board supports Pat Russo and the leadership team, and the efforts they are making to adapt the company's plans in light of this year's developments,' the statement said.

The directors said they awaited Russo's plan, which will be presented at the next board meeting on October 30.