Back in late September I placed Patricia Russo, CEO for Lucent-Alcatel on my CEO Watch list. After three straight quarters of declining results, Russo was forced to develop a one-month emergency plan, which she did. At today's meeting the company announced its restructuring plan. The company announced that CFO, Jean Pascal Beaufort will be stepping down to "pursue other opportunities" and will be replaced by Hubert de Pesquidoux, the current head of the enterprise division. The company announced it would cut an additional 4,000 jobs. It remains to be seen whether the changes will enough for Russo to stay.
Keep a close eye on Russo, the board and outside major shareholders as we go forward.
For more:
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