Dallas, Texas 08/29/2013 (Financialstrend) – Alcatel Lucent SA (ADR) (NYSE:ALU) has appointed ex Goldman Sachs Group Inc. (GS) banker Jean Raby as chief financial and legal official as part of the networking-equipment manufacturer’s restructuring under CEO Michel Combes.
The 49-year-old, who was an associate and MD at Goldman’s investment-banking section until 2012, will begin the novel position by September 2013 and shift to Paris, Alcatel-Lucent stated in a declaration.
Jean will take over duties left by outgoing chief financial officer (CFO) Paul Tufano.
Michel, who becomes part of the company during the month of April 2013 after forerunner Ben Verwaayen’s asset sales and firings failed to turn the firm, is making attempts to keep Alcatel-Lucent’s cash from diminishing further after 7 successive years of declinations.
Jean brings investment-banking know-how as the firm tries to slash arrears by 2 billion euros ($2.7 billion) by 2015 end by selling scrips on the securities market or via further asset sales.
“His widespread acquaintance of the business and his profound understanding of worldwide financial markets in the widest intellect will be of huge value as we drive forward with the execution of the Shift Plan declared during the month of June,” Combes added in the declaration.
Alcatel-Lucent during the month of December 2012 pledged its 39,000-sturdy patent collection as security for a 2-billion-euro loan transaction underwritten by Credit Suisse Group AG and Goldman Sachs.
The Paris-based equipment manufacturer is now in search of reducing the rate on part of these loaning amounts, with Morgan Stanley, Credit Suisse and Deutsche Bank AG setting up the deal, an individual with knowledge of the matter said this month.
Alcatel-Lucent gains IP router market share for 5thg straight quarterly period
Alcatel-Lucent declared that, according to Q3 2009 facts from Dell’Oro, it bagged market share in the Service Provider Router division for the fifth successive quarterly period.