Lucent Technologies and Alcatel have put forward a proposal that would require two thirds of the new board to vote for the removal of either the chief executive officer or chairman of the merged company.
The report appeared in the Wall Street Journal today, citing sources close to the companies.
The plan would provide a level of security and staying power to the heads of the company post merger. Serge Tchuruk, chief executive officer of Alcatel, is to be non-executive chairman, while Lucent’s chairman and chief executive officer, while Patricia Russo is to be chief executive of the combined company.
Under Lucent’s current rules, a vote for the dismissal of a chief executive requires only a majority vote.
Alcatel and Lucent confirmed the Eur30bn (ВЈ21bn) merger deal earlier this month, creating a global communications solutions provider with a broad wireless, wireline and services portfolio.
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