Paris - The boss of French telecoms equipment maker Alcatel-Lucent has confirmed that he will not be taking his 2.4-million-euro “golden parachute” after the firm was swallowed up by its rival Nokia this week.
Michel Combes, who has headed the French-American company since 2013, is due to step down as part of the 15.6-billion-euro deal to create the world's biggest supplier of mobile phone network equipment
With fears that French jobs may be at risk, and the management of the new merged company moving to Nokia's Finland base, Combes told French BFM Business radio on Wednesday that he would refuse a leaving bonus he was entitled to.
An Alcatel-Lucent spokesman also confirmed that he would not be taking performance-related shares benefits either.
French President Francois Hollande said he supported the deal on “two conditions” - that “jobs are guaranteed in France” and that research in France is “increased”.
Finnish Finance Minister Antti Rinne said last week that the takeover could threaten more jobs in Finland than in France.
AFP