Alcatel-Lucent CEO Michel Combes will leave the company at the end of the summer to be replaced by an interim leader in the form of chairman Philippe Camus, who will guide the Franco-U.S. vendor through its upcoming takeover by Nokia.
Combes will officially leave his post on 1 September, Alcatel-Lucent announced on Thursday, alongside a second-quarter results announcement that showed growth in the top line and a narrower net loss than in the same period last year.
The firm revealed that Combes would not remain with the company when it announced its €15.6 billion acquisition by Nokia in April, but did not specify a date for his departure. In the meantime, there have been rumours that he is lining up a senior role at expansionist French firm Altice, but on Thursday Alcatel-Lucent gave no indication as to his next move.
It did, however, report that the Nokia deal is on course.
"Progress towards the proposed combination with Nokia is well on track, in particular with regulatory approvals being secured in a number of jurisdictions," Combes said.
And Alcatel-Lucent is making progress in its ongoing turnaround plan.
The firm posted revenues of €3.45 billion for the three months to the end of June, an increase of 5% on the year-ago quarter, while its net loss narrowed to €54 million from €298 million.
It also posted positive free cash flow of €65 million, a €270 million improvement on Q2 last year.
"Our second quarter 2015 results represent a significant milestone for Alcatel-Lucent, reflecting the first Q2 of free cash flow generation since the merger of Alcatel and Lucent in 2006," Combes said.
"Alcatel-Lucent’s financial results for the first half of 2015 clearly show that the company has delivered on the key objectives of The Shift Plan, launched two years ago," he added. "The company is now well on track to complete its turnaround by the end of the year."
The company has Combes to thank for the recent uptick in its financials.
"Michel can be credited with renewing a company which is now ready to reap the fruits of these efforts, and commence a new chapter in its history," Camus said.
