Russo, Tchuruk out at Alcatel-Lucent

After being subjected to catcalls and boos at a recent investor conference in Paris in late May, it's no surprise that beleagured Alcatel-Lucent CEO Pat Russo has decided to step down from her post by year-end. In addition, Chairman Serge Tchuruk will step down Oct. 1.

Analysts and investors have been calling for Russo's removal for more than a year. The company today reported a second quarter net loss of $1.73 billion (see related story). The company has been plagued with problems since the merger of Paris-based Alcatel and Murray Hill, N.J.-based Lucent in 2006, during this time the company has had six straight quarter of losses and its market capitalization has been cut in half.

Analysts were circumspect about Russo's announced departure. Most believe the company needs new management to help it compete in an increasingly tough market. Alcatel Lucent has faced increasing competition from players such as Ericsson and low-cost vendors such as Hauwei.

For more:
- see this article (sub. req)

Related stories:
Boos and catcalls rain down on Alcatel-Lucent CEO
Alcatel-Lucent backs CEO Russo

Sponsored by ADI

What if we were always connected? With the help of our advanced wireless technology, even people in the most remote places could always be in touch.

What if there were no ocean, desert, mountain or event that could ever keep us from telling our stories, sharing discoveries or asking for help? ADI’s next-gen communications technology could keep all of us connected.

Suggested Articles

AT&T's 5G strategy sounds a little like a cross between T-Mobile and Verizon.

Verizon EVP and CTO Kyle Malady shared a few details about how it's using the 3.5 GHz Citizens Broadband Radio Service (CBRS) band.

Ericsson's latest Mobility report finds that an average of 64% of service providers globally offer fixed wireless access (FWA) service.