John Paczkowski

Recent Posts by John Paczkowski

Alcatel-Lucent: We Suck in French and English

Alcatel-Lucent is cleaning house and, frankly, it’s about time. After posting yet another massive quarterly loss Tuesday ($1.7 billion), the company said its chief executive, Patricia Russo, and chairman, Serge Tchuruk, who together led its trans-Atlantic merger two years ago, will resign their positions by year end.

“The merger phase is now behind us,” Tchuruk said in a statement. “I am proud that Alcatel-Lucent (ALU) has become a world leader in a technology which is transforming our society.”

Added Russo, “Our strategy is taking hold, and our results are demonstrating good operational progress. That said, I believe it is the right time for me to step down.”

Apparently, after six consecutive quarters of losses and a brutal reduction in both market share and market capitalization, their work is done.