PARIS Feb 6 Alcatel-Lucent Chief
Executive Ben Verwaayen will step down after the company's May 7
annual shareholder meeting when his current contract expires, Le
Monde reported on Wednesday.
A spokeswoman for the telecom equipment maker had no
immediate comment about the report on the French daily's
website, but a union source confirmed that the CEO's departure
had been agreed.
The decision not to renew Verwaayen's contract was finalised
at a board meeting on Wednesday, according to the report, which
quoted anonymous sources.
Under Verwaayen, who took over the top job in 2008, the
troubled company returned to full-year profit in 2011 for the
first time since the Franco-American merger that created it five
But earnings swung back into the red last year as a result
of spending cutbacks by telecommunications operator, especially
in China and Europe.
Verwaayen's exit is to be announced along with
fourth-quarter results on Thursday, Le Monde said.