Combes to depart Alcatel-Lucent September 1

Alcatel-Lucent (Euronext Paris and NYSE: ALU) CEO Michel Combes will step down September 1, 2015, as part of the transition towards the company's acquisition by Nokia (see "Nokia pulls trigger on Alcatel-Lucent buy"). The company's board of directors announced the date of Combes' departure last week, as well as further shuffling of the management deck.

Alcatel-Lucent (Euronext Paris and NYSE: ALU) CEO Michel Combes will step down September 1, 2015, as part of the transition towards the company's acquisition by Nokia (see "Nokia pulls trigger on Alcatel-Lucent buy"). The company's board of directors announced the date of Combes' departure last week, as well as further shuffling of the management deck.

Philippe Camus, currently chairman of the board of directors, will become Chairman and Interim CEO. Jean-Cyril Spinetta will serve as lead director of the board. COO Philippe Guillemot will continue to lead the group's operational management of the group. Jean Raby, chief finance and legal officer, will lead completion of the acquisition.

Finally, Guillemot and Basil Alwan, president of the IP Routing & Transport business line, will jointly lead the integration team.

Nokia has said that it hopes to close the proposed €15.6 billion ($16.7 billion) acquisition in the first half of 2016. The transaction recently won approval from the European Commission.

Combes announced he would depart Alcatel-Lucent when the deal was announced this past April. He joined the company as CEO in February 2013 with the mandate to turn around the ailing company. His response was "The Shift Plan," which focused the company on a narrower scope of business (see "Alcatel-Lucent shifts and optical transport, FTTx shift with it" and "CEO Combes makes case for Alcatel-Lucent's shift").

"Alcatel-Lucent has already delivered on major steps of The Shift Plan, successfully focusing itself around growth in next-generation and reviving the confidence of its stakeholders. Michel can be credited with renewing a company which is now ready to reap the fruits of these efforts, and commence a new chapter in its history," said Camus.

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