Lucent Technologies has named Patricia F Russo as the company's new
president and chief executive officer. Russo started work at Lucent
in 1981 while it was still part of AT&T, but left nine months
ago to become president and chief operating officer of Eastman
Kodak.
Russo will oversee the restructuring begun by Henry Schacht,
current president and chief executive officer, as the company
adjusts to radical structural changes forced by losses in a weak
economy. Schacht plans to remain Lucent's chairman for an interim
period expected to be no longer than a year.
Lucent spun off its microelectronics business, Agere Systems in
April, cut its own product portfolio and eliminated many
manufacturing facilities by outsourcing production to contract
manufacturers or closing facilities altogether.
Lucent cut about 39,000 jobs from the 106,000-strong workforce last
year and may cut its staffing numbers by another 15,000 to 20,000
workers, according to filings with the US Securities and Exchange
Commission.
Before leaving Lucent, Russo was executive vice-president and chief
executive officer of the company's service provider networks
division - the business unit producing equipment for telephone
companies and Internet service providers. This division is expected
to become Lucent's core operating business with its restructuring,
a spokesperson for Lucent said.