Alcatel-Lucent has named its new bosses. Former British Telecom chief executive Ben Verwaayen will have the job of turning round the loss-making telecoms equipment group.
Veteran French businessman Philippe Camus is to be the new non-executive chairman.
The appointments come one month after investors forced out the current managers – Serge Tchuruk and Patricia Russo – following a series of profit warnings.
The company’s market value has dropped more than 60% in the 21 months since Alcatel and Lucent merged.