Alectel-Lucent announced today that both their chairman Serge Tchuruk and their CEO Patricia Russo will be resigning later this year. CEO Russo will remain at helm until a successor is found but that will be before the end of the year, according to the company. Chariman Tchuruk will be resigning effective October 1st.
Both Russo and Tchuruk were the masterminds behind the merger of Alcatel and Lucent in 2006. While they did form a telecom giant, the merger did not produce the results investors were looking for and the stock seems to continue on a downward slope. [click to continue...]
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To accelerate the widespread adoption and deployment of WiMAX technology and products, Alcatel-Lucent, Cisco®, Clearwire, Intel Corporation, Samsung Electronics and Sprint today announced the formation of the Open Patent Alliance (OPA). The OPA will advance a competitive and open intellectual property rights model, thus stimulating a larger WiMAX industry that supports innovation through broader choice and lower equipment and service costs for WiMAX technology, devices and applications globally.