Could Alcatel-Lucent rule change doom Russo?

Alcatel-Lucent will hold its annual shareholders meeting May 30. While recent quarterly results have given shareholders plenty of reason to prepare for a venting session, the real star of the show could be a resolution up for vote that would allow the board to make a CEO change with only a majority vote, rather than the two-thirds vote currently required.

Alcatel-Lucent says the two-thirds requirement was intended to be a temporary measure while the mega-vendor tackled its initial months of integration. However, the timing of the possible rule change doesn't look good for current CEO Patricia Russo. She received a vote of confidence from the company board last fall following rumors that she could be ousted, but the firm's performance has not exactly improved since.

For more:
- read this story at BusinessWeek

Suggested Articles

LF Edge, an umbrella organization that's part of the Linux Foundation, announced the second release of its Akraino Edge Stack.

Chris Young is leaving his role as CEO of cybersecurity firm McAfee to become a senior advisor with TPG Capital, which has a majority stake in McAfee.

CenturyLink wins a $1.6 billion contract with the U.S. Department of Interior to upgrade its network services and modernize its IT solutions.