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News > Companies
Lucent names new chief
October 6, 1997: 10:00 a.m. ET

McGinn is promoted to CEO; Schacht will remain as chairman
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NEW YORK (CNNfn) - Lucent Technologies Inc. said Monday that Richard McGinn will succeed Henry Schacht as chief executive officer. The appointment is effective immediately.
     McGinn had been Lucent's president and chief operating officer. The company said Schacht remains chairman.
     Schacht said he and McGinn have enjoyed a productive working relationship over the past few years that he anticipates building on.
     "Rich's energy, strategic sense and operational experience combined with a clear vision of the leadership role that Lucent can play in the communications networking and technology arena make him the right leader to further Lucent's growth," he said in a statement.
     McGinn was named president and COO two years ago when the company was spun off from AT&T Corp.
     Prior to becoming Lucent's president, McGinn was executive vice president of AT&T and president and chief executive of its network systems group.Back to top
     --Cyrus Afzali

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