Lucent Technologies Appoints John Kritzmacher Chief Financial Officer
FEBRUARY 28, 2006, MURRAY HILL, N.J. — Lucent Technologies (NYSE: LU) today announced that John A. Kritzmacher, 45, has been appointed the company’s chief financial officer (CFO). Kritzmacher, who had been Lucent’s corporate controller since 2001, succeeds Frank D’Amelio, who took on a new role as Lucent’s chief operating officer in January. The appointment is effective immediately.
As CFO, Kritzmacher will be responsible for all of Lucent’s financial operations, including corporate accounting, external reporting, financial planning, treasury, tax and investor relations. In addition, he will oversee internal audit, real estate, and mergers and acquisitions. He will report directly to Chairman and CEO Patricia Russo.
“John’s proven talent and leadership were instrumental in helping the company through a difficult period in our history and returning us to profitability,” said Lucent Technologies Chairman and CEO Patricia Russo. “He has continued to set high standards and focus our business on taking a disciplined approach to our financial management and reporting practices. His financial experience and deep knowledge of our business will make this a seamless transition and allow us to continue to leverage the operational gains we have made during the last several years.”
As Lucent’s corporate controller, Kritzmacher played a critical role in leading the company’s financial recovery. He was an active leader in the company’s major restructuring efforts, which led to the reduction of about $5 billion in annual operating expenses and helped generate the company’s first full year of profitability in fiscal 2004 after three years of losses. He also has led the company’s comprehensive internal controls efforts under the Sarbanes-Oxley Act, and Lucent’s 2005 audit reflected no material weaknesses as a result of this undertaking.
Kritzmacher joined an accelerated leadership development program at Bell Labs in 1982, and has progressed through a number of positions in finance, product marketing and operations at Lucent and its predecessor, AT&T. Prior assignments included finance leadership for the Switching Solutions Group, planning and analysis for the former Network Systems Group, merger and acquisition development, and market unit business management within North America. Among his most recent financial roles, Kritzmacher was responsible for providing financial leadership across all of Lucent’s products units.
Kritzmacher earned a bachelor’s degree in math and economics from Dartmouth College and an MBA from New York University’s Stern School of Business.
Lucent Technologies designs and delivers the systems, services and software that drive next-generation communications networks. Backed by Bell Labs research and development, Lucent uses its strengths in mobility, optical, software, data and voice networking technologies, as well as services, to create new revenue-generating opportunities for its customers, while enabling them to quickly deploy and better manage their networks. Lucent’s customer base includes communications service providers, governments and enterprises worldwide. For more information on Lucent Technologies, which has headquarters in Murray Hill, N.J., USA, visit http://www.lucent.com.
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