Alcatel-Lucent backs CEO Russo

Even though Alcatel-Lucent has issued many profit warnings since the companies merged last year, the board of directors still supports the job CEO Patricia Russo is doing. They're not mad, they're just disappointed. The company recently announced plans to quicken the integration of the two companies, which many analysts took to mean an ouster of Russo was imminent.

The Alcatel-Lucent board said that it is "clearly disappointed in the most recent changes in the company's outlook," but it supports executives' leadership "to adapt the company's plans in light of this year's developments."

For more on the statement:
- read this article from the WSJ (sub. req.)