Alcatel-Lucent announced changes to its Board of Directors following the the settlement of Nokia’s public exchange offer for all outstanding ordinary shares, American depositary shares (“ADSs”) and OCEANE convertible bonds of Alcatel-Lucent, in exchange for Nokia shares or Nokia ADSs.
Jean Monty, Louis Hughes, Olivier Piou, Stuart Eizenstat, Kim Crawford Goodman and Francesco Caio have resigned and Risto Siilasmaa, Rajeev Suri, Timo Ihamuotila, Maria Varsellona and Samih Elhage have been coopted to the Board, subject to ratification by the shareholders of Alcatel-Lucent at the next shareholders’ general meeting. Nokia has stated that it would vote in favor of such ratification.
Philippe Camus has been confirmed in his position of Chairman of the Board and CEO of Alcatel-Lucent. The Board has approved his compensation as Chairman and CEO.
The newly constituted Board decided to terminate Alcatel-Lucent’s program for ADSs following the settlement of the initial period of the Offer and to seek the delisting of Alcatel-Lucent’s ADSs from the New York Stock Exchange following the settlement of the reopened Offer.
Alcatel-Lucent and Nokia will proceed with their integration plans.
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