Keeping true to the idea that 2009 will be "a year of transformation," Alcatel-Lucent has appointed the company's Victor Agnellini to the newly minted position of senior vice president, transformation. Prior to being named to this new role, Agnellini was the president of Alcatel-Lucent's Caribbean and Latin American division. Operating out of Paris, Agnellini is being tasked to put into action the transformation initiatives that company CEO Ben Verwaayen launched last December. These new transformation initiatives cut across three distinct elements: strategy, systems and structure, and culture and behavior.
Verwaayen said in a release that the appointment of Agnellini will enable the company to pave what he believes is a path to profitability. "Victor's nomination today is a major step in making sure that at a global level, we have the transformation activities in our systems, processes, strategy and culture all fully orchestrated. This is a critical step in returning the company to profitability while staying entirely focused on our customers' needs."
Alcatel-Lucent may have a sound plan, but with the company forecasting that telecommunications equipment and services will fall between 8 and 12 percent in 2009, the road to profitability won't be easy. After suffering steep losses at the end of 2008, Q1 2009 was no better, as the company reported that net losses grew to $531.56 million, compared to $181 million a year ago. Alcatel-Lucent will report Q2 09 earnings tomorrow.
Alcatel-Lucent announces strategic shift with job and expense cuts