Alcatel-Lucent has tapped a management team to execute a plan to turn around the ailing telecom vendor, says newly installed CEO Michel Combes, who plans to outline the strategy Wednesday. Combes wants to stop the cash bleed at the French vendor in order to invest more capital in new technologies, he said Wednesday at a telecom conference. "This company definitely knows innovation. ... The real problem is that the financial situation isn't sustainable. We need to generate cash," Combes said.

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