Paris, February 7, 2013 - Alcatel-Lucent (Euronext Paris and NYSE: ALU) announced today that CEO, Ben Verwaayen, has decided not to seek re-election as a director at this year’s Annual General Meeting, and will step down as CEO once a successful transition has been executed.
Philippe Camus, Chairman of the Alcatel-Lucent Board, said “After due reflection, the Board has accepted Ben’s decision to step down as CEO.”
“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.”
He added, “the Board wishes to record its thanks to Ben, and will take full advantage of him remaining in the role as CEO whilst the Board runs a full and independent process to find a successor, looking at both internal and external candidates.”.
A search committee, chaired by Daniel Bernard and comprising Philippe Camus, Louis R. Hughes, Jean C. Monty and Jean-Cyril Spinetta, will monitor the process.
Ben Verwaayen said, “Alcatel-Lucent has been an enormous part of my life. It was therefore a difficult decision to not seek a further term, but it was clear to me that now is an appropriate moment for the Board to seek fresh leadership to take the company forward.”
“I have therefore informed the Board that I will not seek re-election at the Annual General Meeting, and I will work with them openly and fully as they complete a succession process.”
He added “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.”
About Alcatel-Lucent (Euronext Paris and NYSE: ALU)
The long-trusted partner of service providers, enterprises and governments around the world, Alcatel-Lucent is a leading innovator in the field of networking and communications technology, products and services. The company is home to Bell Labs, one of the world's foremost research centers, responsible for breakthroughs that have shaped the networking and communications industry. Alcatel-Lucent was named one of MIT Technology Review's 2012 Top 50 list of the "World's Most Innovative Companies" for breakthroughs such as lightRadio™, which cuts power consumption and operating costs on wireless networks while delivering lightning fast Internet access. Through such innovations, Alcatel-Lucent is making communications more sustainable, more affordable and more accessible as we pursue our mission - Realizing the Potential of a Connected World.
With operations in more than 130 countries and one of the most experienced global services organizations in the industry, Alcatel-Lucent is a local partner with global reach. The Company achieved revenues of Euro 15.3 billion in 2011 and is incorporated in France and headquartered in Paris.
For more information, visit Alcatel-Lucent on: http://www.alcatel-lucent.com, read the latest posts on the Alcatel-Lucent blog: http://www.alcatel-lucent.com/blog and follow the Company on Twitter: http://twitter.com/Alcatel_Lucent.
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