[Techtaffy Newsdesk]

Alcatel-Lucent CEO, Ben Verwaayen, is stepping down. Mr. Verwaayen has decided not to seek re-election as a director at this year’s annual general meeting, as well.

He will step down as CEO once a successful transition has been executed. The company is running an independent process to find a successor, looking at both internal and external candidates. A search committee, chaired by Daniel Bernard and comprising Philippe Camus, Louis R. Hughes, Jean C. Monty and Jean-Cyril Spinetta, will monitor the process.