Alcatel CEO resigns as company's progress stalls

Alcatel-Lucent said today that Chief Executive Ben Verwaayen will step down after a four-year run at the Paris-based telecom gear maker as insiders said he failed to turn around the struggling vendor. He will remain in the post until Alcatel finds a successor. Verwaayen told CNBC that "I think we have stabilized the company. ... You look to what you need to go and do in the coming three years -- it is execution, execution, execution. And maybe that is not the natural strength that I have."

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