Telecom & Wireless
Alcatel-Lucent Tries Management Reshuffle, Focus on P&L
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The company’s Performance Program goes back to July, and the aim is to generate 1.25 billion euro of cost savings by the end of 2013. Today’s key objective of the new operating structure is to strengthen its presence in key telecommunications products and services through a unified business group with an executive committee overseeing the simplified business model.
A newly appointed chief operating officer will be focused on executing operational improvements. The new organization will become effective on January 1, 2013. Here are the key management changes:
Investors still appear to have at least some hope in their wallets here as shares are up 1.7%, or $0.02, at $1.17 so far. Unfortunately, trading volume is light in New York and the 52-week range for the ADRs is $0.99 to $3.37.
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