Nokia Outlines Structure for Alcatel-Lucent Takeover
October 07 2015 - 3:10AM
Dow Jones News
Nokia Corp. on Wednesday laid out management and organizational
plans for the group as it prepares for the completion of its €15.6
billion ($17.6 billion) acquisition of French rival Alcatel-Lucent
SA.
"We are making very good progress on being ready to operate as a
combined company when the proposed exchange offer closes," said
Nokia Chief Executive Rajeev Suri.
Nokia's chief financial officer, Timo Ihamuotila, will remain in
his position and serve as CFO of the combined group, while Ashish
Chowdhary, currently chief business officer at Nokia Networks, will
become chief customer operations officer.
Nokia said it plans to split its current Networks business,
merging businesses from Nokia and Alcatel-Lucent to create four
groups: Mobile Networks, Fixed Networks, Applications &
Analytics and IP/Optical Networks.
Samih Elhage, currently executive vice president and chief
financial and operating officer of Nokia Networks, will become
president of Mobile Networks, while Federico Guillen, the president
of Fixed Networks at Alcatel-Lucent will become president of the
new combined Fixed Networks unit.
President of the new Applications & Analytics business will
be Bhaskar Gorti, who is currently president of IP Platforms at
Alcatel-Lucent. Basil Alwan, currently president of IP Routing and
Transport at Alcatel-Lucent will become president of IP/Optical
Networks.
The company's Nokia Technologies division will remain a separate
entity and will continue to be headed by Ramzi Haidamus, it
said.
The deal for Alcatel-Lucent was announced in April after months
of talks, as the two firms seek to better compete against larger
rivals. They are currently working with the few remaining antitrust
authorities to conclude their regulatory reviews and completion of
the deal is expected in the first half of 2016.
Write to Dominic Chopping at dominic.chopping@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 07, 2015 02:55 ET (06:55 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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