Monday, September 1, 2008

Alcatel-Lucent Names Camus as Chairman and Verwaayen as CEO

Alcatel-Lucent's Board of Directors has approved the appointment of Philippe Camus as the company's non-executive Chairman as of October 1st, 2008. Ben Verwaayen is appointed as the company's chief executive officer. Ben will also join the company's Board of Directors.


Philippe Camus has previously served as the Co-CEO at European Aeronautic Defense and Space Company (EADS) and managed a large, global business in the high-tech industry. He is Co-Managing Partner of Lagardère, an international media group, and a partner of Evercore Partners, a New York based investment and advisory firm.


Ben Verwaayen served as CEO of BT from February 2002 to June 1, 2008. He was formerly vice-chairman of the management board of Lucent Technologies in the US, which he joined in September 1997. Prior to that, he worked with KPN in the Netherlands for nine years as president and managing director of its telecom subsidiary, PTT telecom. Before that, Ben worked for ITT, a predecessor of Alcatel.


Ben Verwaayen's office will be in the company's headquarters in Paris.


Philippe Camus' pay package includes a yearly fixed compensation of EUR 200,000 and a 100,000 restricted shares grant in September 2008 (to be earned upon performance criteria).


Ben Verwaayen's pay package as Alcatel-Lucent Chief Executive Officer includes a yearly fixed compensation of EUR 1,200,000, a target annual bonus of 150% of fixed salary (payout can range between 0% to 200% of that target based on agreed performance yearly criteria), and a grant of 1,000,000 share options in the first quarter of 2009. Ben Verwaayen will receive an initial option grant of 250,000 shares in September 2008. Options will vest upon performance criteria. In addition, there is a 250,000 restricted shares grant in September 2008 (to be earned upon performance criteria).http://www.alcatel-lucent.com

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