Ben Verwaayen will step down as CEO of Alcatel-Lucent and has decided not to seek re-election as a director of the firm.
Verwaayen has serves as Alcatel-Lucent's CEO since September 2008, when he replaced Patricia Russo. Previously, Verwaayen was CEO of BT. A search committee has been formed to identify a successor.
In a press release, Ben Verwaayen stated "Alcatel-Lucent has been an enormous part of my life. It was therefore a difficult decision to not seek a further term, but it was clear to me that now is an appropriate moment for the Board to seek fresh leadership to take the company forward."
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