Russo Faces Restless Board

When Patricia Russo left America for Paris to head Alcatel-Lucent(ALU),she knew it would be a challenge.Mergers and acquisitions,such as the combination of Alcatel and Lucent Technologies,are rarely if ever easy.Not only are there cultural issues,but financial pitfalls as well.Alcatel-Lucent is proving to be no exception to the rule;indeed,it is ailing to a frustrating degree.Its share price was over 15.00 in January.Today,it struggles to stay above 10.00.The board of ALU has demanded changes within a month,following the telecom colossus' third profit warning.They expect Ms. Russo to deliver a restructuring plan.There is no reason why this industry leader can't be turned around.It is number one in DSL,with a 39% market share;number one in optics,with a 23% market share in Terrestrial and Submarine;and number one in long-haul microwave transmission,among other areas.With a capital of more than 4.5 billion euros,ALU has the substance.It just needs to be shaped a little better.Ms. Russo,54,is a Georgetown University graduate.She served more than twenty years at AT and T(T) and Lucent Technologies,which she helped found.I wish her much success at this crucial moment in the life of her major firm.This morning,Alcatel-Lucent shares were trading up at 10.10.