x
Mobile

AlcaLu Appoints Ex-Investment Banker as CFO

As another step its Shift restructuring plan, Alcatel-Lucent has appointed former Goldman Sachs investment banker Jean Raby to be Chief Financial and Legal Officer of the company.

Raby will relocate to Alcatel-Lucent (NYSE: ALU)'s Paris headquarters and assume the CFO role on September 1, replacing current CFO Paul Tufano, who is leaving the company. Raby joins the company after serving as a partner and managing director in Goldman Sachs' investment banking division until late 2012.

Alcatel-Lucent CEO Michel Combes said in a statement that Raby will help the company implement its Shift plan, first announced in June, and "in particular our objectives to reach €1 billion of selective asset sales, €2 billion of debt refinancing, and €2 billion of debt reduction before the end of 2015."

The telecom giant is in the midst of a restructuring plan to focus on growth opportunities, re-evaluate its product portfolio, reduce costs, and shake up its senior management team. A big part of it also requires paying back loans and raising more equity, for which Raby will lead the effort. He is the second outsider the company has hired since announcing the plan. In July it added Philippe Guillemot as Chief Operations Officer. (See Alcatel-Lucent Unveils Shift Plan and Alcatel-Lucent Builds Future Around IP.)

— Sarah Reedy, Senior Editor, Light Reading

^ip4g^ 8/29/2013 | 3:49:59 AM
Re: ALU partners Its quite confusing that AlcaLu still toes along the line of wireless, wherein they were seen to getting formidable on IP, Optics and Fixed Broadband ...
DOShea 8/28/2013 | 5:04:06 PM
Re: ALU partners My money is on some sort of new NFV or SDN partnership connected to AlcaLu's CloudBand or Nuage efforts. Alas, there are so many NFV and SDN companies out there, I'm not even sure where to start naming possible names.
Sarah Thomas 8/28/2013 | 4:13:38 PM
ALU partners Alcatel-Lucent is moving pretty swiftly on its Shift plan, which is promising. I'm curious to see what other partnership emerge like the one it formed with Qualcomm. Any bets?
HOME
SIGN IN
SEARCH
CLOSE
MORE
CLOSE