CEO and Chairman Out at Alcatel-Lucent

Was the transatlantic merger even worth it? With Patricia Russo and Serge Tchuruk both stepping down, the company will have to convince investors
From left, Alcatel-Lucent Chairman Serge Tchuruk and CEO Patricia Russo. Eric Piermont/AFP/Getty Images

On July 29, shareholders in telecommunications equipment giant Alcatel-Lucent (ALU) finally got what many have been demanding for months: the resignations of Chief Executive Patricia Russo and Chairman Serge Tchuruk. Russo, the former boss of Lucent Technologies before its 2006 merger with Alcatel, said she'll step down before the end of the year, while former Alcatel chief Tchuruk will leave Oct. 1. "The company will benefit from new leadership aligned with a newly composed board to bring a fresh and independent perspective," Russo said, in announcing the changes, which will include a downsizing of its 14-member board.

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