Alcatel-Lucent announced today that CEO, Ben Verwaayen, has decided not to seek re-election as a director at this year's Annual General Meeting, and will step down as CEO once a successful transition has been executed.
Philippe Camus, chairman of the Alcatel-Lucent Board, said "After due reflection, the Board has accepted Ben's decision to step down as CEO."
Over the last few years, Ben has set a new direction, created one company out of two, and has recently seen through the completion of the stabilisation of the company's balance sheet, enabling us to move forward with confidence added Camus.
He added, "the Board wishes to record its thanks to Ben, and will take full advantage of him remaining in the role as CEO whilst the Board runs a full and independent process to find a successor, looking at both internal and external candidates.".
A search committee, chaired by Daniel Bernard and comprising Philippe Camus, Louis R Hughes, Jean C Monty and Jean-Cyril Spinetta, will monitor the process.