With McGinn Out, Lucent Reshuffles Executives

Two weeks after firing its chairman and chief executive officer, Rich McGinn, embattled telecommunications equipment maker Lucent Technologies said Tuesday it has reshuffled a number of high-level executives.

Lucent said Deborah Hopkins, vice president and chief financial officer at Lucent, will take on additional responsibilities for developing the information systems infrastructure that the company hopes will help correct recent financial woes. Hopkins talked to press and analysts last month following the release of Lucent's fourth quarter earnings and predicted that a shakeup might occur.

"2001 will be a rebuilding year," she said in the Oct. 23 teleconference. "We're essentially taking the company apart to build it back up."

Lucent also said Tuesday that Ben Varwaayen, its vice chairman, would now be responsible for world-wide marketing, sales and services. Former Executive Vice President Bob Holder will also change roles and become head of corporate operations in charge of Lucent's product organizations, manufacturing and supply chain management.

Henry Schacht was named as Lucent's chairman and chief executive officer on Oct. 23, replacing McGinn.

Lucent Technologies, in Murray Hill, New Jersey, can be reached online at http://www.lucent.com/.

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