Wanted: Chairman, CEO for Alcatel-Lucent

BANGALORE, INDIA: Alcatel-Lucent, an IT service provider, today announced the changes to its leadership and Board of Directors.

The non-executive chairman, Serge Tchuruk has decided to step down on October 1, 2008.

The chief executive officer, Pat Russo has planned to step down before the end of this year. However, on the Board’s request, he would run the company till a new CEO is in place.

“The merger phase is now behind us. I am proud that Alcatel-Lucent has become a world leader in a technology which is transforming our society. It is now time that the company acquires a personality of its own, independent from its two predecessors. The Board must also evolve and the Chairman should give the first example, which I have decided to do,” said Serge Tchuruk.

According to the company, the Board has determined to restructure itself in a way consistent with the company's needs going forward.

As part of this process the Board will reduce the size of its membership over time while adding several new members with strong industry expertise.

The company also announced its quarterly results and demonstrated improvements to its operational results for the third straight quarter.

The Board will commence search for a new non-executive Chairman and CEO immediately.