Alcatel: Throne for Tchuruk

The departure of Alcatel’s chief operating officer, Philippe Germond, should make investors queasy. It comes just one week after the French telecom equipment maker proposed changing its bylaws to permit Serge Tchuruk to hang onto the role of chairman until 2008. Germond’s resignation calls into question Alcatel’s managerial and strategic plans. Companies should have clear succession plans. And when a group is run by a hands on 67 year-old, as is Alcatel, this is doubly true. Tchuruk has to reti...