Alcatel-Lucent names new CFO amid turnaround plans

Alcatel-Lucent (NYSE:ALU) appointed Jean Raby as its new CFO and chief legal officer. Raby will take his post effective Sept. 1, replacing Paul Tufano, who the vendor said in June would leave once the company's new restructuring plan was underway. Raby previously served as a partner and managing director at Goldman Sachs' investment bank division. One of Raby's main tasks will be to bolster the company's balance sheet. As part of the restructuring plan, Alcatel-Lucent will refinance around $2.7 billion in debt to repay a loan it secured in January from Credit Suisse and Goldman Sachs, and it may also raise another $2.7 billion down the road to repay those debts, perhaps via asset sales or a share sale known as a rights issue. Release

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