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Alcatel-Lucent Message Board

  • gamblevestor gamblevestor Feb 6, 2013 9:46 PM Flag

    Ben is on his way out

    SYDNEY (MarketWatch) -- Franco-American telecom-equipment giant Alcatel-Lucent SA /quotes/zigman/163047 FR:ALU -0.84% /quotes/zigman/163221/quotes/nls/alu ALU -0.58% is expected to announce Thursday that its chief executive, Ben Verwaayen, will step down, according to reports. Verwaayen's contract is due to expire May 7, the reports said. The Wall Street Journal reported, citing people close to the board, that Verwaayen will stay at the firm until a replacement is found. Alcatel-Lucent is expected to report earnings on Thursday that will likely show a year-on-year decline in quarterly operating income and its seventh consecutive year of negative cash flow, the WSJ report added.