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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Alcatel Lucent    ALU   FR0000130007

Delayed Quote. Delayed  - 07/22 05:35:30 pm
3.49 EUR   +0.29%
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Alcatel-Lucent Appoints Michel Combes as CEO

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02/22/2013 | 08:15am CEST
   By Nadya Masidlover 
 

PARIS--Telecom-equipment maker Alcatel-Lucent (>> Alcatel Lucent SA) said Friday that it has appointed Michel Combes, former head of Vodafone PLC's European operations, as Chief Executive.

In a statement, the company said the appointment will be effective from April 1, adding that Mr. Combes will also join the company's board of directors, subject to the approval of shareholders at the annual general meeting in May.

The move comes after Alcatel-Lucent announced earlier this month that Ben Verwaayen would step down as chief executive, following a tumultuous run of under five years in which the telecom-gear company racked up billions of euros in losses.

On Friday, board Chairman Philippe Camus said in a statement that incoming Mr. Combes "will be responsible for delivering sustainable profitability. His deep knowledge of the industry as well as his experience of major business and financial transformation at a worldwide level will be pivotal in helping the company pursue its aggressive transformation."

Mr. Combes, 51, held the position of Chief Executive Officer of Vodafone Europe and was a board member of Vodafone PLC (>> Vodafone Group plc), Alcatel-Lucent said.

He also held the positions of Chief Financial Officer and Senior Executive Vice President of France Telecom (>> France Telecom SA).

Alcatel-Lucent said directors also approved the appointment of Jean C. Monty--former chairman of the board and Chief Executive Officer of Bell Canada Enterprises--as Vice-Chairman of its board, effective immediately.

Write to Nadya Masidlover at nadya.masidlover@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Alcatel Lucent SA, Vodafone Group plc, France Telecom SA
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Financials (€)
Sales 2016 14 518 M
EBIT 2016 1 019 M
Net income 2016 697 M
Finance 2016 1 389 M
Yield 2016 -
P/E ratio 2016 19,94
P/E ratio 2017 11,63
EV / Sales 2016 0,75x
EV / Sales 2017 0,65x
Capitalization 12 349 M
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 4,82 €
Spread / Average Target 38%
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Managers
NameTitle
Olivier Durand Chief Executive Officer
Marc Rouanne Chairman
Philippe Guillemot Chief Operating Officer & Sales Officer
Carla Cico Independent Director
Jean-Cyril Spinetta Lead Independent Director
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