A couple of weeks ago, we reported that telco giant Alcatel-Lucent confirmed that its CEO, Ben Verwaayen, would step down from his positions as CEO and board member. In addition, the telco reported declines in the last year and profit for the fourth quarter of last year.
Verwaayen, who had led the company for the last five years, plans to stay on until a replacement was sought out, according to a company press release. The company also stated that they had immediately formed a search committee, and today, Alcatel-Lucent issued a press release that Verwaayen’s replacement has been found.
Alcatel-Lucent has tapped former Vodafone Group Plc (VOD) executive Michel Combes as CEO. Combes, who is a telco industry veteran with cost-cutting experience, will undoubtedly assist in helping the French-based company increase its profits in the next year.
According to a company-issued press release, Combes, who has more than 20 years of experience, has previously held the positions of Chairman and CEO of TDF as well as Chief Financial Officer and Senior Executive Vice President of France Telecom.
The company also stated that effective immediately, Alcatel-Lucent’s Board of Directors also approved the appointment of Jean C. Monty as Vice-Chairman of the Board.
As previously reported, Verwaayen will stay on during the transitional period, likely until Combes is expected to take on his new post on April 1.