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  

Want more articles like this?

Subscribe to Channelnomics for a daily newsletter roundup direct to your inbox

More on Channel Business

Just say ‘no’ to nostalgia


Success = planning + growth

For the technology channel, growth is key to success, but that growth won’t happen by itself


IoT set to rocket - Splunk

Exec says IoT adoption will spike rapidly just like cloud


Salesforce partners challenged to keep up amid ISV push

Channel execs say partners will need to leverage enablement resources to keep up with Salesforce as it looks to increase ISV business

Visitor comments
Add comments
blog comments powered by Disqus

Channelnomics story of the month - September 2015

Check out which piece the Channelnomics team liked best


Size matters: MSPs need to strike the right balance

Too small and you may not be able to stay on top of what's happening in the channel. Too big and you may just lose your edge


Just say ‘no’ to nostalgia

Agility noun agil·i·ty \ə-ˈji-lə-tē\ : the quality or state of being agile : nimbleness : dexterity...


Vendor Q&A Series: Heather Tenuto, ShoreTel

The latest channel exec to sit in the Channelnomics hotseat is ShoreTel's VP of worldwide channel programs and sales enablement