Push me, Pull you

24 April 2006 By Robert Cyran Follow @rob_cyran

The terms of their merger reportedly require twothirds board vote to remove the chairman or the chief executive. The transatlantic power sharing agreement between the telecom equipment makers is already a fudge. Institutionalising it is a poor idea.

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Alcatel and Lucent have agreed that the removal of either the chairman or chief executive will require approval by twothirds of the board of directors according to reports. The French and US telecom equipment makers agreed to an allstock merger in early April valued at E30bn.

Serge Tchuruk of Alcatel will become chairman. Patricia Russo, the current chairman and chief executive of Lucent, will become chief executive of the combined group.

The board of directors will have 14 members. Each company will appoint six members, and two members will be independent European directors to be mutually agreed upon.

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