Recommended Reading - Failure is an option

Carmen Nobel of Portfolio.com wrote a story yesterday examining circumstances where previous failed CEOs surprisingly get hired as CEO for another firm, e.g., Robert Nardelli former CEO of Home Depot and current CEO of Chrysler.  Nobel examines the reasons why this can happen and examines the overall CEO hiring process.  The piece is a worthwhile read.

Unconfirmed Reports Indicate Alcatel-Lucent Will Name New CEO

Alcatel-Lucent ALU (NYSE), which forced its CEO, Patricia Russo and Chairman Serge Tchuruk to resign back in July, is rumored to be ready to announce the appointment of former president of science technology and strategy, Mike Quigley as its new CEO.  Quigley, who at one time was considered a prime candidate for the CEO position of Alcatel, left the company back in August of 2007 and moved back to Australia.  According to a story by Mary Lennighan for Total Telecom,

Former Alcatel-Lucent executive Mike Quigley will likely succeed CEO Patricia Russo, having secured the backing of the vendor's nomination committee, it emerged Wednesday. 

Quigley, who held the position of technical chief at Alcatel-Lucent until he resigned last August, is the favourite to replace the outgoing chief executive, Reuters reported, citing a piece in French weekly Le Canard Enchaine.

The market has responded positively to the rumor. 

For more:

BusinessWeek

Telecom Tiger

Canadian Press

Barron's Tech Trader