Losses mount, CEO out at Alcatel-Lucent

Alcatel-Lucent chief executive Ben Verwaayen has stepped down from his post just as the vendor posted a fourth-quarter net loss of almost $1.9 billion

  • Tweet  
  • LinkedIn  
  • Facebook  
  • Google plus  
  • Send to Kindle
  • Send to  
A meat cleaver cutting through the word losses

Editor’s note:  As part of our special editorial partnership, Channelnomics is publishing this recent article from CRN in the UK.

Alcatel-Lucent CEO Ben Verwaayen has stepped down from his post just as the vendor posted a fourth-quarter net loss of almost $1.9 billion.

Related articles

For the three months to the end of 2012, the telecoms vendor posted sales of about $5.57 billion, down 1.3 percent on an annual basis. Net losses stood at $1.86 billion, compared with a net profit of 1.18 billion in the corresponding period last year.

In 2011 Alcatel-Lucent posted its first ever annual profit, six years after being formed through the merger of U.S. player Lucent with French rival Alcatel. But in 2012 it has returned to loss making, with net losses for the full year standing at more-or-less the same amount as those for the fourth quarter. Full-year revenues declined 5.7 percent year on year to just under $19.72 billion.

Former BT CEO Ben Verwaayen, who has been in the Alcatel-Lucent hotseat since 2008, announced today that he will step down from the firm after handing over the reins to his successor. A search committee has been set up to identify a new leader.

"The combination of our recent refinancing and the implementation of our restructuring plan will put the company on a secure footing for the successor the board will seek to appoint," said Verwaayen.

Board chairman Philippe Camus added: "Over the last few years, Ben has set a new direction, created one company out of two, and has recently seen through the completion of the stabilisation of the company's balance sheet, enabling us to move forward with confidence."

For more UK channel coverage from CRN UK, visit www.channelweb.co.uk

  • Tweet  
  • LinkedIn  
  • Facebook  
  • Google plus  
  • Send to Kindle
  • Send to  
More on Channel Business
Rejected Link Request

Salesforce CEO: SAP rejected our partnership

Marc Benioff said he attempted to collaborate with competitor

hired-hire-join-appoint-appointed-rubber-stamp-rubberstamp

IBM appoints new Global Business Partners VP

Michele Stern tasked with bringing $5bn in revenue

communication1

Communication breakdown: Getting vendor marketing and partner sales on the same page

Channel players talk struggles, consequences and solutions to poor communication among vendor marketing teams and channel sales teams

wires

HP to focus on wired, wireless to take market share from Cisco

Meg Whitman says there is opportunity to capture Cisco-dominated market

Visitor comments
Add comments
blog comments powered by Disqus
In-depth
newspapers-and-glasses

Channelnomics' top five stories of the week - 3 July 2015

Check out which articles grabbed the most attention this week

jessica-m-225x300

Editor's voice: The week's channel chatter - 3 July 2015

What's been happening this week on Channelnomics?

Microsoft Surface Hub

Microsoft going big with partners on Surface Hub launch

Partners report strong demand for the wall-mounted collaboration device, anticipate even more opportunities when application development program rolls out in September

communication1

Communication breakdown: Getting vendor marketing and partner sales on the same page

Channel players talk struggles, consequences and solutions to poor communication among vendor marketing teams and channel sales teams