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.

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