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Ben Verwaayen resigns as CEO of Alcatel-Lucent

CEO resigns as losses rise to $1.85 billion in 2012

Ben Verwaayen has been CEO at Alcatel-Lucent for four years.
Ben Verwaayen has been CEO at Alcatel-Lucent for four years.

Ben Verwaayen, CEO of Alcatel-Lucent, has resigned from the France-based telecoms vendor. Verwaayen, who will remain as CEO for an unspecified time while a successor is found, has been in the top job for four years.

The announcement about Verwaayen's resignation came as Alcatel-Lucent saw its losses rise to $1.85 billion for 2012, compared to $1.49 million in 2011.

Verwaayen said in a statement: "Alcatel-Lucent has been an enormous part of my life. It was therefore a difficult decision to not seek a further term, but it was clear to me that now is an appropriate moment for the Board to seek fresh leadership to take the company forward."

Alcatel-Lucent is planning to search for a replacement CEO internally and from outside the company.