Alcatel-Lucent announces governance structure to prepare company for proposed combination with Nokia
Via Alcatel Lucent Newsroom
Jul 30, 2015
Paris, France, July 30, 2015
The Board of Directors of Alcatel-Lucent (Euronext Paris and NYSE: ALU) has announced today the governance structure to lead the Group as it prepares for the proposed combination with Nokia.
Effective September 1, 2015, and for the duration of the transition period, Philippe Camus, currently Chairman of the Board of Directors, will become Chairman and Interim CEO. Jean-Cyril Spinetta is appointed Lead Director of the Board. Philippe Guillemot, Chief Operating Officer, will be in charge of leading the operational management of the group. Jean Raby, Chief Finance and Legal Officer, will be responsible for completing the proposed transaction with Nokia. Philippe Guillemot and Basil Alwan, President of the IP Routing & Transport business line, will jointly lead the integration team.
Michel Combes will step down as CEO, as was indicated at the time of the announcement of the proposed merger with Nokia on April 15. His departure from the group will be effective September 1.
The leadership team will be responsible for completing Alcatel-Lucent’s 2015 targets under the Shift Plan and closing the proposed transaction with Nokia and preparing for the companies’ integration.
Commenting on the Board’s decision, Philippe Camus said: “In order to achieve the objectives of this transition period and ensure the successful integration with Nokia, I will be supported for operational responsibilities by Philippe Guillemot who, in addition to leading execution of The Shift Plan, will also be in charge of the Executive Committee and will co-lead the integration process with Basil Alwan. Jean Raby will ensure the closure of the intended transaction in the best interests of the Alcatel-Lucent shareholders.”
Mr. Camus added: “On behalf of the Board of Directors, I also wish to express our deep gratitude to Michel Combes. His determination to turn around Alcatel-Lucent and his leadership have enabled the Group’s transformation.
“Alcatel-Lucent has already delivered on major steps of The Shift Plan, successfully focusing itself around growth in next-generation and reviving the confidence of its stakeholders. Michel can be credited with renewing a company which is now ready to reap the fruits of these efforts, and commence a new chapter in its history."
Sign up to receive TelecomTV's top news and videos, plus exclusive subscriber-only content direct to your inbox.