AlcaLu Board Backs Russo
The statement, issued at 3 p.m. Eastern Time today, states: "Recent reports in the news concerning a Board meeting at Alcatel-Lucent have led to mischaracterized interpretations and erroneous speculations."
It continues: "While clearly disappointed in the most recent changes in the company’s outlook, the Board supports Pat Russo and the leadership team, and the efforts they are making to adapt the company’s plans in light of this year’s developments."
Some media reports suggested that Russo was considering her position at the company, while others suggested a swift turnaround was needed for the CEO to keep her job.
The statement adds that it will be reviewing a revised plan of action at the end of this month. "The Board will review the plan to be developed by Management during the next scheduled Board meeting on October 30th prior to the release of our Q3 results."
The statement ends with a reiteration of support for Russo. "The Board reiterated its confidence in the strategic direction taken with the merger of Alcatel-Lucent, the future potential of the company and said it will continue to work with the company’s leadership team to enhance value for shareholders, employees and customers worldwide."
— Ray Le Maistre, International News Editor, Light Reading