Quantcast
Latest Stories

Alcatel-Lucent boss leaving as losses mount



PARIS — Alcatel-Lucent CEO Ben Verwaayen is leaving the loss-making French-U.S. telecommunications gear maker after a failed four-year bid to return it to profit.

Verwaayen said in a statement Thursday that it was “clear to me that now is an appropriate moment” for Alcatel-Lucent to seek new leadership.

The Dutchman’s surprise departure comes as Alcatel-Lucent reported losing €1.37 billion last year, compared to a €1.1 billion gain a year earlier.

No details on Verwaayen’s replacement were provided. He has agreed to stay on as caretaker until a successor can be found. Alcatel-Lucent said it will look at candidates both internally and from outside the company.

Verwaayen joined Alcatel-Lucent in 2008 after the ouster of the previous management led by American Patricia Russo. Russo and her French counterpart Serge Tchuruk had masterminded the $11.6 billion merger of Lucent of the U.S. and Alcatel of France. The combined company has racked up many billions of euros in losses since its creation in 2006, something Verwaayen has spent four years trying to reverse.

Alcatel-Lucent supplies telecom operators and corporations the technology for building global communications networks. It has suffered from repeated rounds of costly layoffs and restructuring, as well as intense competition from the likes of Ericsson of Sweden, China’s Huawei and Nokia Siemens Networks, a Finnish-German joint venture.


Follow us on Facebook Follow on Twitter Follow on Twitter

Other Stories:

No related posts found!





Recent Stories:

Poe, Cayetano to colleagues: Shun formalities, let’s hear Napoles’ tell-all ASAP 17 mins elapsed Name names, Lacson dared 41 mins elapsed 4.6-magnitude quake hits Surigao del Norte 1 hour elapsed This woman ate what? 1 hour elapsed Camilla’s brother dies of NYC head injury 2 hours elapsed Nepal officials go to Everest to try to end crisis 2 hours elapsed PH-HK relations repaired, but families of victims still being courted 2 hours elapsed Promoters Dela Hoya, Arum in talks for Pacquiao-Alvarez—report 2 hours elapsed
Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Alcatel , Ben Verwaayen , Finnish-German joint venture , French-U.S. telecommunications , Lucent

  • Weder-Weder Lang

    As much as the world fears the rise of China, the rise of Huawei and ZTE are game-changers in global telco landscape. Qualcomm, which used to lord it over telco equipment makers and charge high licensing fees for its abundant treasure trove of patented technologies, has now been diminished by the Chinese duo’s efforts to wean the world off Qualcomm’s exorbitant IP. Creative destruction or disruptive technology, it all boils down to what’s good for consumers. Not just for corporate greed.

    • tanga_hanga_ni_abnoy

       globe is using hwawei and now they are suffering

      • Weder-Weder Lang

        As early as 2008, people in Smart’s NOC have also started using hwawei and ZTE components. Digitel or Sun Cellular (now Smart) has always been on ZTE and Huawei right from the start. As for Globe, aside from Huawei being a problem, they also took in more subscribers than they can serve, thereby overloading their network than it was designed for.



Copyright © 2014,
.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement Advertisement
  1. Mark Caguioa lambasts Ginebra teammates on Twitter
  2. ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  3. No truth to viral no-visa ‘chronicles’
  4. Nokia to be named Microsoft Mobile
  5. Senator wants to probe PH slow Internet connection
  6. Bam Aquino becomes Master Splinter’s son after Wiki hack
  7. Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  8. New York police Twitter campaign backfires badly
  9. PH has slowest internet in Southeast Asia
  10. Did Deniece Cornejo lambast Vhong Navarro on social media?
  1. PH has slowest internet in Southeast Asia
  2. Mark Caguioa lambasts Ginebra teammates on Twitter
  3. Netizens seethe over Aquino’s ‘sacrifice’ message
  4. Did Deniece Cornejo lambast Vhong Navarro on social media?
  5. Senator wants to probe PH slow Internet connection
  6. Facebook rolls out ‘nearby friends’ feature
  7. Nasa’s moon-orbiting robot crashes down
  8. Judge in Apple v. Samsung patent trial fed up with smart phones in court
  9. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  10. Nokia to be named Microsoft Mobile
  1. #RejectedBbPilipinas2014Questions flood Twitter
  2. Did Deniece Cornejo lambast Vhong Navarro on social media?
  3. Netizens fall in love with Crimea prosecutor Natalia Poklonskaya
  4. Mommy Dionisia Pacquiao scores, takes over social media
  5. Nude and so dangerous
  6. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  7. Russia tries to curb Crimean prosecutor’s Internet fame
  8. Memes flourish after Pacquiao victory
  9. PH has slowest internet in Southeast Asia
  10. Netizens thank Capa for Lee arrest

News

  • Poe, Cayetano to colleagues: Shun formalities, let’s hear Napoles’ tell-all ASAP
  • Name names, Lacson dared
  • 4.6-magnitude quake hits Surigao del Norte
  • Camilla’s brother dies of NYC head injury
  • Nepal officials go to Everest to try to end crisis
  • Sports

  • Promoters Dela Hoya, Arum in talks for Pacquiao-Alvarez—report
  • Benzema guides Madrid to 1-0 win over Bayern
  • Suns’ Goran Dragic win NBA’s Most Improved Player award
  • Heat go up 2-0, hold off Bobcats 101-97
  • Ronaldo shakes off injury fears to play Bayern
  • Lifestyle

  • This woman ate what?
  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Entertainment

  • Has Ai Ai fallen deeply with ‘sireno?’
  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • Business

  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Technology

  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • PH-HK relations repaired, but families of victims still being courted
  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Advertisement
    Marketplace