Alcatel-Lucent (UNKNOWN:ALU.DL) has announced that Michel Combes, former CEO of Vodafone Europe and former CFO of France Telecom, will be replacing outgoing CEO Ben Verwaayen and will take the helm as of April 1.
In the following video, Motley Fool tech and telecom analyst Andrew Tonner tells investors why this is a difficult time for Alcatel-Lucent as it struggles to make its turnaround story a reality. Also, while Combes will be a good fit -- with his long history in the industry and his reputation as a cost cutter -- Andrew thinks that the company itself still has a long uphill battle ahead of it in an industry with some very difficult dynamics.
Andrew Tonner has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.