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Telecommunications infrastructure giant Alcatel-Lucent has shaken up the top ranks of its management team. Seasoned telecom veteran Ben Verwaayen has taken over the CEO spot at the ailing company from Patricia Russo. The company’s board also appointed a new chairman, Philippe Camus, who will take over for Serge Tchuruk on Oct. 1. The management shakeup comes in the wake of several sequential quarterly losses. In the quarter ended June 30, year-over-year revenue declined 5.2 percent from about $6.25 billion to roughly $5.95 billion.

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Alcatel-Lucent Pins Turnaround Hopes on New CEO, Chairman

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