By Fox Business
Telecom-equipment maker Alcatel-Lucent (ALU) said Friday that it has appointed Michel Combes, former head of Vodafone PLC's European operations, as Chief Executive.
In a statement, the company said the appointment will be effective from April 1, adding that Mr. Combes will also join the company's board of directors, subject to the approval of shareholders at the annual general meeting in May.
The move comes after Alcatel-Lucent announced earlier this month that Ben Verwaayen would step down as chief executive, following a tumultuous run of under five years in which the telecom-gear company racked up billions of euros in losses.
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