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AlcaLu Chairman: We Back Ben!

7:50 AM -- Alcatel-Lucent (NYSE: ALU) chairman Philippe Camus has rushed to the defense of his CEO Ben Verwaayen following a report in The Wall Street Journal that some shareholders are agitating for the Dutchman to be replaced. (See Euronews: Shareholders Turn On AlcaLu CEO.)

In a statement emailed to Light Reading, Camus proclaimed that "Ben Verwaayen is an extremely effective CEO of Alcatel-Lucent. In spite of challenging external economic conditions, he is continuing to deliver on the ALU transformation. The board, myself and Ben are focused entirely on that task alone."

Verwaayen took over as CEO in September 2008, the same time as Camus was appointed non-executive chairman. At that time, AlcaLu's share price stood at €4.24 on the Paris exchange. (See Verwaayen Takes the Helm at AlcaLu and AlcaLu Picks Camus, Verwaayen.)

Since taking over Verwaayen has stressed that his goal is to make the vendor a "normal company" (growing, making profits) that is relevant to its market, with a greater focus on applications and service creation capabilities as exemplified by the vendor's unveiling Thursday of a carrier cloud services product. (See AlcaLu Unveils Its Carrier Cloud Play and AlcaLu's New Vision: More Convergence.)

But that turnaround process (given the state the company was in when he took over) is still ongoing and has not been helped by the global macro-economic conditions that have prevailed during his tenure. As a result, Verwaayen and his CFO Paul Tufano are still working on delivering that normality. (See AlcaLu CFO: We're 'P*ssed'.)

Today AlcaLu's share price stands at €1.42 on the Paris exchange, up slightly from Thursday's closing price.

— Ray Le Maistre, International Managing Editor, Light Reading

digits 12/5/2012 | 4:48:31 PM
re: AlcaLu Chairman: We Back Ben!

I wonder if any of the disgruntled shareholders that reportedly want Verwaayen replaced will 'show' themselves.


And I wonder what impact they think a change in CEO at this point would have an ALU?


 

ita090370 12/5/2012 | 4:48:24 PM
re: AlcaLu Chairman: We Back Ben!

on the heat for cost redaction this companin goes crazy, CEO launched a battle and servant managers are wagging their tale to show how smart they are cutting without any logic, this would impact the production.


We are not a financial subjects, we are industry.


Shareholder beware your investement.

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