Lucent chief reportedly with one foot out the door

Are the wheels coming off at Lucent Technologies? During the
past two years, Lucent has been consistently beaten up in the market by Cisco,
which appears to be taking its toll on Lucent Technologies’ management. Already
the company’s shares have hit a two year low and now rumors are surfacing that
Lucent chairman Rich McGinn may be forced out barring a quick turn around.

Lucent has already employed a headhunter firm to look for a
replacement for McGinn. Lucent has denies all rumors regarding McGinn. Company
officials have conceded that they didn’t recognize the shift towards high-speed
fiber optic products and that Lucent has fallen behind Cisco and Nortel in that
vital and booming market. And Lucent has also found it difficult to catch up
once the company realized the seriousness of the situation.

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