Lucent Technologies has announced that its chief operating officer Bob Holder will stand down as part of plans to "consolidate the responsibilities of top management".
The consolidation will see chairman and chief executive Patricia Russo assume Holder's responsibilities before he leaves the company this summer.
Russo said: "Now that a number of significant issues are behind us, including the Securities and Exchange Commission investigation and shareowner litigation, I decided that it was the right time to consolidate our top management structure and for me to manage operations more directly."
As chief operating officer Holder, who had been in the role since October 2001, had responsibility for Lucent's major units - Mobility Solutions, Integrated Network Solutions, Lucent Worldwide Services, Supply Chain Networks and Information Technology. These units will now report directly to Russo.
Prior to his position as chief operating officer, Holder was executive vice president for corporate operations.
He has been with Lucent since it was spun off from AT&T in 1996, after a long career with AT&T.
Holder said: "I agree with Pat [Russo] that this is the right time to streamline the senior management structure."
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