Alcatel-Lucent has tapped a management team to execute an operational plan designed to turn around the ailing telecom vendor, said newly installed Chief Executive Michel Combes, who plans to outline the strategy June 19. Combes wants to stop the cash bleed at the French vendor in order to invest more capital into 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.

Related Summaries