McGinn shown door at Lucent
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Capping months of dreadful corporate news, Lucent last week ousted CEO Richard McGinn in an attempt to move past product shortfalls and rebuild its image.
McGinn's departure in some ways culminates a movement to replace old-line AT&T and Lucent executives who had been bubbling up from lower in the organization. The move came in the same week former parent AT&T announced a massive reorganization into four independent units.
In the past few months, executives from several Lucent acquisitions - including high-speed switch maker Yurie Systems, metropolitan optical vendor Chromatis Networks and network-management provider International Network Services - have replaced Lucent veterans as heads of key business units targeting high-growth service providers.
McGinn seemed to try to shield himself from the tide with a personnel maneuver in August. After AT&T and Lucent veteran Patricia Russo left as Lucent's executive vice president for service provider networks, McGinn announced a search for a chief operating officer to handle her responsibilities.
But analysts began calling for McGinn's head instead. That call grew louder after McGinn issued Lucent's third warning this year of lower forecasted earnings and kept changing his explanations for Lucent's lag in optical revenue.
Lucent temporarily replaced McGinn with its founding chairman, Henry Schacht, and announced a new CEO search.
"Lucent has ended its previously announced search for a chief operating officer," the announcement tersely stated.
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