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Alcatel President Germond Suddenly Steps Down

MANHASSET, N.Y. — Philippe Germond, president and chief operating officer of France-based telecom equipment maker Alcatel, announced Friday (April 8) he would resign, amidst rumors of management unrest .

Germond, who became president and COO of Alcatel in January 2003, will step down from his post April 19, at the company's next Board of Directors meeting. No successor has been named.

Though Alcatel gave no reason for Germond's sudden departure, a MarketWatch report quoting French newspaper Les Echos hinted Germond would resign following a disagreement with Alcatel's CEO Serge Tchuruk over strategy.

Media reports said Tchuruk has been negotiating a deal to sell Alcatel's civilian satellite operations to Thales in exchange for a one-third stake in the company. Germond reportedly opposed the idea.

An analyst for CM-CIC Securities was quoted as saying Germond could have also left because of Tchuruk's preference for another successor.