Alcatel Lucent today named its new chief executive officer (CEO) as Michel Combes.
Formerly the CEO of Vodafone Europe and having held senior positions at France Telecom, as well as being a technical advisor to the French government, Combes will take over on 1 April 2013 and is likely to be voted to become a member of the board of directors during their May meeting.
The position became vacant earlier this month when the current CEO, Ben Verwaayen resigned his post following another set of dire results for Alcatel Lucent. The company posted quarterly losses of just over €1.37bn, which included restructuring charges of €247m, an impairment charge of €894m and €514m in deferred tax.
“This is a company I know well and I look forward to succeeding Ben, working with the key international customers and driving the business into sustained profitability for its customers, employees and shareholders,” said Combes.
Philippe Camus, chairman of the board at Alcatel Lucent, welcomed the new CEO and bid farewell to the former in his statement.
“It is a great pleasure for us to welcome Michel Combes to Alcatel Lucent,” Camus said. “As chief executive, he will be responsible for delivering sustainable profitability. His deep knowledge of the industry as well as his experience of major business and financial transformation at a worldwide level will be pivotal in helping the company pursue its aggressive transformation, while meeting customer needs with disruptive innovation.
“I would like to warmly thank Ben Verwaayen for his years of service for the company and wish him all the best for his future endeavours. Ben and Michel will work closely together over the next few weeks to ensure a smooth transition.”
As well as a new CEO, Alcatel Lucent has also appointed a vice chairman to its board, Jean C Monty, who was previously CEO of Nortel Networks and Bell Canada.