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Alcatel-Lucent chief to resign: Report

Alcatel-Lucent CEO Ben Verwaayen is expected to step down Thursday, according to the Wall Street Journal.
Written by Josh Taylor, Contributor

Ahead of the company's fourth quarter and full-year 2012 results announcement in Paris in the morning, Alcatel-Lucent's CEO Ben Verwaayen is expected to announce that he will step down as CEO, according to the Wall Street Journal.

The report cites people close to the board, who reportedly have been frustrated with Verwaayen's progress to turn around the network vendor.

Alcatel-Lucent declined to comment on the story when contacted by ZDNet.

At the company's third-quarter results in November, Alcatel-Lucent reported a loss of €146 million (US$188m) on revenue of €3.6 billion (US$4.64bn). Chief financial officer Paul Tufano said at the time that the company would look to dispose of assets and would cut 5,500 jobs worldwide, including 15 percent of its French workforce, in order to save the company.

Verwaayen said that those cuts to headcount would be completed by the end of 2013.

The company holds some 29,000 patents, and could potentially sell its fibre-optic cable division or its enterprise unit.

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