Patricia Russo


Patricia Russo

Patricia Russo (born in 1953, in Trenton, New Jersey) was the chief executive officer of Alcatel-Lucent. On September 2, 2008 she was succeed by Ben Verwaayen after publicly stepping down in July 2008. Alcatel-Lucent is one of the world's largest communication equipment manufacturers. Lucent was a spin-off from AT&T of its Systems and Technology units (AT&T Technologies, Inc., the former Western Electric), and the manufacturing and research and development operations, including Bell Laboratories. On April 2, 2006 it was announced that Russo would assume the CEO role of a new combined company resulting from the merger of the French communications company Alcatel and Lucent. This merger became effective on December 1, 2006. When Russo became the CEO of the combined company, Serge Tchuruk, the former CEO of Alcatel, remained as Chairman.

The combined company was, at the time, one of the largest in the world in terms of revenues (over $25 billion) run by a woman.

Lucent Technologies lost 70% of its share value while Russo was its CEO, prior to the Lucent-Alcatel merger.

On July 29, 2008, Russo, along with Alcatel-Lucent chairman Serge Tchuruk, announced that she would step down by the end of 2008, in a broad-reaching management restructuring. Significant changes in the composition of the company's board were also announced. Alcatel-Lucent shares lost more than 60% of their value in the year preceding her departure. In the statement released by Alcatel-Lucent relating to her departure, Russo was quoted as saying, “The company will benefit from new leadership aligned with a newly composed board to bring a fresh and independent perspective that will take Alcatel-Lucent to its next level of growth and development in a rapidly changing global market.” [ [http://www.nytimes.com/2008/07/30/business/worldbusiness/30alcatel.html?hp Alcatel-Lucent Chiefs to Step Down, "The New York Times", July 29, 2008] ]

"Forbes" magazine rated Russo as the tenth on its list of the most powerful women in the world in 2007. Russo is a graduate of Lawrence High School and Georgetown University and serves on its Board of Trustees.

She is married and has two stepchildren.

Quotes

"Early in my career there were some people who didn't believe a woman belonged in sales, but I worked hard on the accounts I was given and made sure I met the customers' needs and focused on producing results for the company. What I found is that results matter—it's hard to argue with them. People who produce results rise to the top."

References

External links

* [http://www.alcatel-lucent.com/wps/portal/!ut/p/kcxml/04_Sj9SPykssy0xPLMnMz0vM0Y_QjzKLd4w3CTDVL8h2VAQACsRvKw!!?LMSG_CABINET=Corporate&LMSG_CONTENT_FILE=About_Us/Leadership/Leadership_Bios_000001.xml Patricia Russo] at Alcatel-Lucent
* [http://www.forbes.com/lists/2006/11/06women_The-100-Most-Powerful-Women_Rank.html Forbes 2006 100 Most Powerful Women Ranking]


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