AlcaLu's CFO Signs Off
The name plate changer at Alcatel-Lucent (NYSE: ALU)'s Paris headquarters is being kept more than busy as CEO Ben Verwaayen continues his autumn cleaning of the vendor's top table. (See Verwaayen Takes the Helm at AlcaLu.)
Following a major revamp of the senior management structure and team earlier this month, CFO Hubert de Pesquidoux, an Alcatel staffer for 17 years, has packed his personal belongings and made his way to the exit door. (See AlcaLu Unveils New Leadership Team, AlcaLu Appoints New Americas Exec, and AlcaLu Hires Another New Exec.)
According to AlcaLu, de Pesquidoux, the former president of Alcatel North America who was appointed as CFO in late October 2007, "decided to leave the company to pursue other opportunities." (See Russo Shakes Up AlcaLu's Top Team and Alcatel Appoints Execs.)
His replacement, as of December 1, is Paul Tufano, who is no stranger to the wonderful world of communications technology. He was CFO, and even acting CEO for a while, at electronics equipment manufacturing firm Solectron before it was acquired by Flex (Nasdaq: FLEX) in October 2007. (See AlcaLu Names New CFO.)
Prior to Solectron, Tufano was CEO at hard-drive vendor Maxtor, now part of storage firm Seagate Technology LLC (Nasdaq: STX).
Tufano will not inherit de Pesquidoux's role as acting head of the vendor's Enterprise business, which is now being run solely by Tom Burns.
The new CFO has his work cut out. AlcaLu is still suffering from post-merger financial blues, and has a share price that, at today's €1.72, is down nearly 67 percent this year, and which values the vendor at €4 billion (US$5.2 billion) on the open market. (See AlcaLu Down, But Not Out, in Q3.)
De Pesquidoux joins a growing list of Alcatel-Lucent executives that are updating their CVs: Just last week another Alcatel veteran, the vendor's managing director of Australasia and North Asia, Hilary Mine, announced her departure. (See More Changes at AlcaLu.)
— Ray Le Maistre, International News Editor, Light Reading