Update: Alcatel-Lucent CFO leaves in management shake-up
481931
Alcatel-Lucent&#39;s head of enterprise systems, Hubert de Pesquidoux, will take on the role of chief financial officer as part of a management shake-up intended to streamline decision-making. The company has suffered from lackluster performance since its formation from the&#160;merger of Alcatel and Lucent Technologies&#160;last December.CEO Patricia Russo announced the changes Wednesday, at the same time&#160;outlining a three-point plan for restoring the company to profitability. The company also reported a third-quarter loss of &#8364;345 million ($492 million) on revenue of &#8364;4.35 billion.Russo will in future be advised by panel of seven senior executives, down from 11 before. Just two of them are former Lucent employees: Cindy Christy, who will add Central and Latin America to her existing responsibility for North American sales, and John Meyer, head of services, a role he held at Lucent.The merging of North America with Central and Latin America in Alcatel-Lucent&#39;s sales structure is part of a broader move to simplify the way the company sees the world, splitting it into just two regions: the Americas, and the rest.Former CFO Jean-Pascal Beaufret is &quot;leaving the company to pursue other opportunities,&quot; but will remain for a short period as he hands over to de Pesquidoux. It wasn&#39;t immediately clear if de Pesquidoux would also remain head of the enterprise systems group or if Alcatel Lucent would seek someone else.De Pesquidoux, a former merchant banker, is also part of the new management team. He used to run Alcatel&#39;s North American operations before taking over the merged company&#39;s enterprise systems division. Although enterprise systems is the smallest of the company&#39;s business units, contributing just &#8364;380 million of its &#8364;4.35 billion revenue last quarter, it is the best performing, with an operating profit margin of 7.6 percent.The remaining members of the management team are Chief Technology Officer Etienne Fouques, head of human resources and communications Claire Pedini, carrier business group head Michel Rahier, and Frederic Rose, who heads up the company&#39;s business in Europe, the Middle East, Africa, and Asia Pacific.Rahier will oversee one of the biggest changes in the company&#39;s product structure, as it eliminates the layer of management that divided the carrier business group into separate wireless, wireline and convergence teams.Other changes ahead for the company include a tighter focus on products to help carriers transform their networks to an all-IP (Internet Protocol) infrastructure, a move from products to value-added services, and a more streamlined organization with fewer staff in support functions to eliminate post-merger duplication.Pedini&#39;s role in human resources is particularly significant as the company prepares to shed a further 4,000 jobs by 2009, having already cut 3,800 in the first half of this year. Her approach is likely to focus on the numbers -- the company hopes the job cuts will save it a further &#8364;400 million -- rather than the people, as she worked for four years as Alcatel&#39;s deputy CFO, only taking on the role of vice president of human resources and communications in January 2006.This article was updated with new information on October 31, 2007.
13903
A pair of top executives in charge of the networks division at mobile phone giant Nokia Corp. are leaving the company for personal reasons, the Finnish company said Friday.
197084
The retailer's CEO steps down amid a shakeup in operations.
406296
Labor unions at Alcatel-Lucent, the telecommunications equipment maker, agreed to job-reduction plans in France, ending protests that included disruption of the companyâs shareholder meeting in June.
734726
(InfoWorld) - Alcatel-Lucent cut its revenue forecast for the year on Thursday, underscoring the challenges the newly merged company faces in a highly competitive communications equipment industry. The company now expects its revenue to be flat or up slightly in 2007, compared with an earlier forecast that it would grow in the mid-single digits along with the overall carrier market. (Both estimates use a constant exchange rate between the euro and U.S. dollar.) In its new forecast, Alcatel-Lucent cited discussions with wireless customers in North America that led it to anticipate weaker spending than it had expected among them this year. Growth in sales volume won't make up for falling prices, Alcatel-Lucent said. As a result, the company expects only to break even in the current quarter. In the second quarter, which ended June 30, it reported an adjusted net loss of â¬336 million, or $455 million as of June 30, the last day in the period being reported. France'sÂ Alcatel bought troubled U.S. infrastructure vendor Lucent last yearÂ as the companies faced Asian competitors, such as Huawei Technologies, as well as consolidation among telecommunications carriers and vendors. It cut 3,800 jobs in the first half of the year and still expects to reach a target of â¬600 million in pre-tax savings from the merger this year, butÂ the merger hasn't led to strong results. The market has lashed out: Alcatel-Lucent's shares (ALA) on the New York Stock Exchange started this year over $15 and are now below $10. On Thursday's news, the stock fell $0.88 to close at $9.16. The company is taking steps to speed up its post-merger restructuring and carry out additional focused cost-cutting plans, CEO Patricia Russo said in a prepared statement on Thursday. Alcatel-Lucent does expect some improvement from quarter to quarter. It forecast third-quarter revenue up slightly from the second quarter and a strong increase in the last quarter of the year. Bright spots in its worldwide business include the wireline and enterprise network business, as well as sales in the Asia-Pacific region.
559755
The job cuts are in addition to 12,500 cuts announced in February. Together, they amount to 20 percent of the work force of Alcatel and Lucent when they combined.
313802
Sprint Nextel Corp , the third  largest U.S. mobile service, said on Thursday Chief Financial  Officer Paul Saleh and two other top executives would leave the  company in a new management shake-up.
305043
Sprint Nextel Corp  Chief Financial Officer Paul Saleh and two other senior executives are leaving the company in a new management shake-up, as the No. 3 U.S. mobile service grapples with subscriber losses.
296054
Shareholders of Alcatel SA and Lucent Technologies Inc. approved the companies' merger plansÂ Thursday, clearing one of the last hurdles to a mammoth consolidation in the communications equipment business.
482907
TeliaSonera, the Nordic regionâs largest telecommunications operator, pushed its chief executive, Anders Igel, left, from his post, saying it wanted to make room for a more growth-oriented leader. Mr. Igel will leave on July 31 and will be succeeded temporarily by Kim Ignatius, the chief financial officer. The company said the decision was made at a board meeting a day earlier, where members concluded that TeliaSonera was entering a new phase and would benefit from a leader who could raise its âspirit and commercial drive.â.
175490
Nokia said the head of its networks  unit had resigned and another senior networks executive left,  marking the second round of departures of top management in two  weeks at the world's top mobile phone maker.
611977
Nokia (NOK1V.HE: Quote, Profile, Research) said on Friday the head of its networks unit had resigned and another top networks executive left, in the second major shake-up
120600
Alcatel-Lucent  on Friday said it would cut some 12,500 jobs over three years as it reported a dip into net loss for the fourth quarter and forecast a drop in first-quarter revenues.
378444
Boeing announced a shake-up in its executive ranks yesterday, ousting its chief airplane salesman at a time when rival Airbus is beating it in airplane orders for the fourth consecutive year.
7801
Jim Lanzone is leaving the company in a management shakeup at parent Interactive Corp.
535462
A CFO who helped Nortel Networks recover from an accounting scandal and years of poor results is leaving the company after about two years on the job.
596268
Yahoo will reorganize into three new units, as part of a shake-up that will see Chief Operating Officer Dan Rosensweig leave the company.