Alcatel-Lucent has announced that they have replaced former CEO Patricia Russo. The chairman Serge Tchuruk was also replaced. Both Russo and Tchuruk turned in their resignation last month. The company has been struggling since the merger of the companies Alcatel (Paris) and Lucent (US). The company has not made a quarterly profit in over two years. I bet we can guess why the resignations were turned in. Anxious to begin turning a profit again Ben Verwaayen takes the helm to try to turn this ship around. Ben was former vice chairman of Lucent's management board. Philippe Camus was appointed to the position of non-executive chairman. Phileppe is the former CEO of European Aeronautic Defense and Space Company. Ben and Phileppe should not have such a hard job in front of them. They simply have to keep the company from loosing $7 Billion every two years, and everything will be O.K.
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