Lucent Technologies has looked inward to find its new chief financial officer, announcing on Tuesday the appointment of John Kritzmacher, the former corporate controller whom the company credits with helping it recover from three years of losses early in the decade.
Kritzmacher succeeds Frank D'Amelio, who became chief operating officer of the network technology vendor in January.
Lucent was hit hard by the telecommunications bust and went through a major restructuring before returning to profitability in its 2004 fiscal year. Kritzmacher was a leader of that restructuring, which cut US$5 billion from the company's annual operating expenses, according to Lucent.
Kritzmacher, 45, joined the former Bell Labs in 1982 in an accelerated leadership development program. He rose through the ranks at Bell Labs' parent company, AT&T, from which Lucent was spun off in 1996. He will report directly to Patricia Russo, Lucent's chairman and chief executive officer.